Precision Wires allots 10 Lakhs shares to Reliance Tax Saver Fund

Precision Wires India Ltd has announced that the Board of Directors of the Company at its meeting held on May 23, 2007, has considered, approved and allotted 11,00,000 Fully Paid Equity Share of the Face value of Rs 10/- each at a Premium of Rs 167.15 per Equity Share pursuant to conversion of Eleven Lac 13% unsecured Fully Paid Convertible Debentures and pursuant to the approval by the Members at the General Meeting held on May 22, 2006, to the following allottees:

1. Reliance Capital Trustee Company Ltd A/C Reliance Tax Saver (ELSS) Fund, a Body Corporate incorporated under the Law having it's Registered Office at Jamnagar - 10,00,000 fully paid equity shares of the face value of Rs 10/- each at a premium of Rs 167.15 per equity share.

2. Pradeep Sandeep Trading & Investment Pvt Ltd, a Company incorporated under the Companies Act, 1956 having it's Registered Office at Mumbai - 1,00,000 fully paid equity share of the face value of Rs 10/- each at a premium of Rs 167.15 per equity share.

3. Pursuant to above, the Paid up Capital Share Capital of Company will be increased by Rs 110,00,000/- and Share Premium Amount will be Rs 18,38,65,000/-. Thereby increasing the Total Paid-up Share Capital to Rs 11,56,36,230/-.

Source : Equity Bulls

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