Xpro India approves Preferential Allotment of equity shares & convertible warrants

Xpro India Ltd has announced that consequent upon shareholders' approval at the Company's Annual General Meeting held on July 26, 2007, the Committee of Directors of the Company at its meeting held August 07, 2007, have allotted 4,25,000 Equity Shares of Rs 10/- each for cash at a premium of Rs 31.50 per equity share and 5,00,000 Convertible Warrants (each warrant being convertible into one equity share of Rs 10/- each at a premium of Rs 31.50 per equity share, not before April 01, 2008 and not after December 31, 2008, in one or more tranches) @ Rs 41.50 per warrant for cash on preferential basis to M/s. Sutlej Cotton Mills Supply Agency Ltd, part of the Promoters / Promoter Group of the Company, in accordance with the SEBI (DIP) Guidelines, 2000 for Preferential Issues.

Source : Equity Bulls

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