Aptech to issues warrants on preferential basis

Aptech Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 16, 2006, inter alia, have approved the issue of 47,62,500 convertible warrants ("Warrants"), on a preferential basis, to the following persons:-

1. Shri. Gopikishan S Damani : 11,00,000 Warrants

2. Shri. Rakesh Jhunjhunwala : 7,00,000 Warrants

3. Smt. Rekha Jhunjhunwala : 20,00,000 Warrants

4. M/s. ASK Investment & Financial Consultants Pvt. Ltd. : 6,50,000 Warrants

5. Shri. Ramesh S Damani : 12,500 Warrants

6. Shri. C Y Pal : 50,000 Warrants

7. Shri. Vijay Aggarwal : 2,50,000 Warrants

Each of the aforesaid warrant would be convertible at the sole option of the holder, any time before the expiry of 18 months, from its allotment into 1 fully paid up equity share of the Company of face value Rs 10/- each , at an exercise price (including premium) decided by the Board of Directors which is not lower than the minimum price specified as per Clause 13.1.1.1 of Chapter XIII of SEBI Guidelines but not higher than Rs 113/- per Warrant, and the issue of fresh equity shares upon conversion of the Warrants, shall be subject to such further terms and conditions, as may be finalised by the Board of Directors. It has been decided that, upon the approval of the shareholders, in accordance with Clause 13.1.2.3 of Chapter XIII of SEBI Guidelines, an amount of Rs 13/- per Warrant shall be payable by the allottees on the date of allotment of the said Warrants. The balance monies of Rs 100/- per Warrant shall be payable by the allottees, at the time of conversion of the Warrants into equity shares.

Source : Equity Bulls

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