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| Exchange Disseminated Time | Garware Synthetics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 12, 2015, inter alia, has transacted the following business:
1. Due to Non receipt of Allotment money before February 12, 2015 the below mentioned business will be considered in the next Board meeting which will be held on February 16, 2015
a. To issue and allot 4,60,000 Convertible Warrants on preferential basis to the Promoters with each Warrant convertible into equity share of the Company of nominal value of Rs. 10/- each at a price of Rs. 50/- which includes a premium of Rs. 40/- per share
b. To issue and allot 4,00,000 Equity shares for cash at a price of Rs. 50/- per equity share (including a premium of Rs. 40/- per Equity share) on preferential basis to the Promoters. |
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