Moschip Semiconductor to issue convertible warrants to promoters

Moschip Semiconductor Technology Ltd has announced that the Board of Directors of the Company at its meeting held on August 31, 2006, inter alia, has transacted the following business:

1. Issue of 1,650,000 Convertible warrants to Mr Achal Ghai (300,000), Dr Madhu Mohan (200,000), Mr K Ramachandra Reddy (500,000), Mr C Dayakar Reddy (500,000) and Mrs Sandhya Reddy (150,000) at a price of Rs 31/- each per warrant subject to approval of the members and other concerned authorities.

Source : Equity Bulls

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