Pitti Laminations allots 2,40,000 shares to promoters on conversion of warrants

Pitti Laminations Ltd has announced that the Board of Directors of the Company at its meeting held on April 11, 2007, has allotted 2,40,000 equity shares to promoters of the Company by conversion of equal number of share warrant allotted to them at the meeting of the Board of Directors held on June 30, 2006. The details of the allotment are as under:

a. Shri. Sharad B Pitti : 1,20,000 no. of shares
b. Shri. Akshay S Pitti : 1,20,000 no. of shares

The Company has already obtained in-principle approval from the Bombay Stock Exchange Ltd for a preferential issue of 9,60,000 equity shares and 2,40,000 share warrants.

While the preferential allotment of share warrants was made on June 30, 2006, now the Board has allotted 2,40,000 shares of Rs 10/- each at Rs 120/- per share to promoters of the Company by way of conversion of equal number of share warrants.

Source : Equity Bulls

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