Genesys International to allot 5,75,000 shares for Rs.19

Genesys International Corporation Ltd has announced that the Board of Directors of the Company at its meeting held on March 30, 2007, has approved the allotment of 5,75,000 Equity Shares of Rs 10/- each at a premium of Rs 9/- per Equity Share to Mr. Sohel Malik, Promoter of the Company consequent to his request for conversion of 5,75,000 Warrants out of 35,30,000 Warrants allotted to him by the Company on January 27, 2007.

Further the Company has informed that post conversion, there shall be 33,55,000 warrants outstanding from Promoter(s) and Outsider(s), convertible into 33,55,000 Equity Shares of Rs 10/- each at a premium of Rs 9/- per Equity Share within 18 months from the date of its allotment.

Source : Equity Bulls

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