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| Exchange Disseminated Time | Arihant Foundations & Housing Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on June 22, 2009, inter alia, for offering, issuing and allotting on a preferential basis up to:
(i) 15,50,000 Convertible Equity Warrants (“Warrants”) to the following:
a. 4,30,000 Warrants to Mr. Kamal Lunawath
b. 4,30,000 Warrants to Mr.Vimal Lunawath
c. 6,90,000 Warrants to Taj Foundations (P) Ltd
each Warrant convertible at the sole option of the holder at any time before the expiry of 18 months from the date of allotment into 1 fully paid up equity share of the Company of face value Rs. 10/- each, at an Exercise price of Rs.89/- (Rupees Eighty nine only) per share (including a premium of Rs.79/- (Rupees seventy nine only) which is not lower than the minimum price specified as per Clause 13.1.1 1 of Chapter XIII of SEBI Guidelines, as amended from time to time"
on such further terms and conditions, as may be finalized by the Board of Directors. |
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