Spentex Industries allots equity shares on conversion of warrants

Spentex Industries Ltd has announced that the Company has allotted 2,75,000 warrants to the promoters of the Company on December 08, 2005 with an option to convert a the sole option of the holder any time before the expiry of 18 month from the date of its allotments into one fully paid up equity shares of the Company.

The promoters have exercised their option to convert these warrants into equity shares and the Company issued and allotted 2,75,000 equity shares of Rs 10/- each to the promoters on June 07, 2007. The equity shares shall rank pari passu with the existing equity shares of the Company in respect of all matters including dividend entitlements.

Source : Equity Bulls

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