LATEST INFORMATION PUBLISHED BY THE COMPANY THAT NOW MAY TAKE THE SHARE PRICE UPWARDS FROM THIS DIWALI 2018 .
Sub: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: Allotment of 75,00,000 equity shares upon conversion of Warrants
This is further to our earlier letter dated 22"d August, 2017, 26th August, 2017 and 30th October, 2017 regarding the issue of Warrants convertible into equity shares on preferential basis to Promoters/Promoter Group of the Companies and Non-Promoters Persons/entities.
We would like to inform you that on receipt of subscription price equivalent to 25% of the issue price (Issue Price being Rs.16 per warrant), the Allotment Committee (Warrants) of Board of Directors at their meeting held on 30th October, 2017 had allotted 4,50,00,000 (Four Crore Fifty Lakh Only) Convertible Warrants to Promoter/Promoter Group of the companies and Non-Promoter Persons/entities.
MN Ventures Private Limited, a Promoter/Promoter Group Entity ("MNV") has now exercised its right for conversion of the Warrants into equity shares by paying balance 75% of the consideration in respect of 75,00,000 Warrants so being exercised.
Consequently, Allotment Committee (Warrants) of the Board of Directors of the Company at its meeting held on 5th November, 2018 has made allotment of 75,00,000 equity shares of the face value of Re.1/-each at a premium of Rs.15 per equity share to the MNV
This is further to our earlier letter dated 22"d August, 2017, 26th August, 2017 and 30th October, 2017 regarding the issue of Warrants convertible into equity shares on preferential basis to Promoters/Promoter Group of the Companies and Non-Promoters Persons/entities.
We would like to inform you that on receipt of subscription price equivalent to 25% of the issue price (Issue Price being Rs.16 per warrant), the Allotment Committee (Warrants) of Board of Directors at their meeting held on 30th October, 2017 had allotted 4,50,00,000 (Four Crore Fifty Lakh Only) Convertible Warrants to Promoter/Promoter Group of the companies and Non-Promoter Persons/entities.
MN Ventures Private Limited, a Promoter/Promoter Group Entity ("MNV") has now exercised its right for conversion of the Warrants into equity shares by paying balance 75% of the consideration in respect of 75,00,000 Warrants so being exercised.
Consequently, Allotment Committee (Warrants) of the Board of Directors of the Company at its meeting held on 5th November, 2018 has made allotment of 75,00,000 equity shares of the face value of Re.1/-each at a premium of Rs.15 per equity share to the MNV
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