Gati Updates on issue of shares

With reference to the earlier announcement dated March 29, 2007, Gati Ltd has announced that the Board of Directors of the Company at its meeting held on March 29, 2007, had allotted 9,85,000 Equity Shares of Face Value of Rs 2/- each at a premium of Rs 82.60 to M/s. Mahendra Investment Advisors Pvt Ltd (Promoter Group) upon conversion of 9,85,000 Convertible Warrants out of total 25,00,000 Convertible Warrants allotted to M/s. Mahendra Investment Advisors Pvt Ltd (Promoter Group) @ Rs 84.60 per Warrant (sub-divided into face value of Rs 2/- each per warrant) on September 16, 2006 under Preferential basis.

Source : Equity Bulls

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