Network Ltd allots 3975000 shares

Network Ltd has announced that the Board of Directors of the Company at its meeting held on July 06, 2007, inter alia, has allotted 3975000 nos of equity shares as per following details:

a. 1600000 Equity Shares of Rs 10/- each at a premium of Rs 10/- each to Ashok Sawhney & sons (HUF) in lieu of 1600000 Warrants of Rs 20/- each.

b. 2375000 equity shares of Rs 10/- each at a premium of Rs 10/- each to the creditor of the Company San Share Shoppe Pvt Ltd in lieu of 475000 nos of 0.01% Cumulative Optionally Convertible Preference Shares (OCPS) of Rs 100/- each.

Source : Equity Bulls

Keywords