Stake Sale

GEE Ltd EGM on Jul 20, 2007 to approve issue of shares and warrants



Posted On : 2007-06-26 08:14:06( TIMEZONE : IST )

GEE Ltd EGM on Jul 20, 2007 to approve issue of shares and warrants

GEE Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on July 20, 2007, to offer, issue and allot, in one or more trances up to 2,00,000 Equity Shares of Rs 10/- each at a premium of Rs 150/- and 1,00,000 Convertible Equity Share Warrants of Rs 175/- each to be converted into 1,00,000 Equity Shares of Rs 10/- each at a premium of Rs 165/- to Venkatesh Shelter Pvt Ltd.

The issue of Equity Shares and Convertible Equity Share Warrants is subject to the following terms and conditions:

1. The warrants shall carry a right to convert into Equity Shares at a price of Rs 175/- (including premium of Rs 165/- per share).

2. On allotment of Share Warrants an amount equivalent to at least 10% of the price of Rs 175/- is payable.

3. The amount paid on allotment of Warrants will be adjusted against the price payable subsequently for acquiring the shares by exercising the option.

4. Such conversion to be effected at anytime within a period of One Year from the date of Allotment.

5. The amount paid on allotment will be forfeited if the option to acquire shares is not exercised.

Source : Equity Bulls

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