Vakrangee Softwares allots shares and warrants on preferential basis

Vakrangee Softwares Ltd has announced that the Board of Directors of the Company at its meeting held on September 14, 2006, inter alia, has allotted Equity Shares and Convertible Warrants on preferential basis to the following applicants as per the terms of the Special resolution passed at AGM of the Company held on September 14, 2006 and approval received from necessary authorities.

1. Jai Corp Ltd
No. of warrants allotted - Nil
No. of equity shares allotted - 1,00,000

2. Nidhi Polyester Ltd
No. of warrants allotted - Nil
No. of equity shares allotted - 2,50,000

3. Ridhi Synthetics Ltd
No. of warrants allotted - Nil
No. of equity shares allotted - 1,50,000
4. Jubiliant Enterprises Pvt Ltd
No. of warrants allotted - Nil
No. of equity shares allotted - 1,00,000

5. Melchior Indian Opportunities Fund
No. of warrants allotted - Nil
No. of equity shares allotted - 3,00,000

6. Marshall Equities Pvt Ltd
No. of warrants allotted - Nil
No. of equity shares allotted - 1,25,000

7. Omega Equities Pvt Ltd
No. of warrants allotted - Nil
No. of equity shares allotted - 1,25,000

8. Dube Industries Ltd
No. of warrants allotted - Nil
No. of equity shares allotted - 2,00,000

9. Maxwell Management Services Pvt Ltd
No. of warrants allotted - Nil
No. of equity shares allotted - 4,00,000

10. Seahorse Mercantile Company Pvt Ltd
No. of warrants allotted - 7,50,000
No. of equity shares allotted - Nil

11. Mindtree Exports Pvt Ltd
No. of warrants allotted - 3,00,000
No. of equity shares allotted - Nil

12. Okean Engineer Pvt Ltd
No. of warrants allotted - 2,00,000
No. of equity shares allotted - Nil

13. Dinesh Nandwana
No. of warrants allotted - 10,00,000
No. of equity shares allotted - Nil

Total No. of Warrants allotted - 22,50,000

Total No. of Equity Shares allotted - 17,50,000

The Company had received full amount of Rs 241/- per share from the applicants of share after which shares are allotted to them. The applicants for warrants had made a payment of Rs 24.10 per warrant as warrant application Money and the Balance amount of Rs 216.90 will be payable by the warrant holders at the time of exercising option to convert the warrants in to equity shares of the Company.

The warrant holders, on exercise of warrants, will be entitled for one fully paid-up equity share of Rs 10/- each for cash at a premium of Rs 231/- per share for every warrant held, which is in accordance with the SEBI guidelines as on the relevant date to AGM viz. May 09, 2006. The Option to acquire equity shares will have to be exercised by the warrant holders, at any time before the expiry of 18 months from September 14, 2006.

Source : Equity Bulls

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