Ansal Housing to allot 6,70,000 shares on conversion of warrants

Ansal Housing & Construction Ltd has announced that the Board of Directors of the Company at its meeting held on March 30, 2007, has approved the allotment of 6,70,000 equity shares to M/s. Beach Financial Services Pvt Ltd who are holders of equal number of warrants after receipt of balance 90% amount payable on these warrants from the respective allottee of these warrants and upon exercise of their option to get the warrants converted into equal number of equity shares. The above is the 2nd conversion of the warrants out of a total of 10,00,000 warrants which were allotted to M/s. Beach Financial Services Pvt Ltd on September 30, 2005 and were to be exercised within a period of eighteen months from the date of allotment.

Source : Equity Bulls

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