Regaliaa Realty allots warrants on preferential basis

Regaliaa Realty Ltd has announced that the Board of Directors of the Company at its meeting held on April 16, 2007, has transacted following business:

1. The Board of Directors has allotted and issued fully Convertible Warrants on Preferential basis as follows:

(a) 4,50,000 Warrants to Mr. D Sudhakara Reddy - Promoter Director

(b) 2,25,000 Warrants to Mrs. D Usha Reddy - Promoter

(c) 3,15,000 Warrants to Mr. Devendra K Shah - Non-Promoter

Each of the Warrant is convertible into one equity share of the Company of nominal value of Rs 10/- each at a price of Rs 24.50 which includes a premium of Rs 14.50 per share. The warrants shall be convertible into equity shares at any time within 18 months from the date of allotment.

2. The Board had also decided to publish and present the audited accounts for the year ended March 31, 2007 on or before June 30, 2007.

Source : Equity Bulls

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