Accentia Technologies EGM approves issue of shares and warrants

Accentia Technologies Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 11, 2007, inter alia, have discussed and approved the following resolution for the issue and allotment of 4,00,000 equity shares of Rs 10 each and issue and allotment of 6,00,000 convertible warrants at a price which is accordance with the SEBI guidelines for preferential issue to following persons:

EQUITY SHARES:

(i) Ravi Kanaiyalal Sheth (Individual) : 2,00,000 No. of Shares

(ii) Bharat Kanaiyalsl Sheth (Individual) : 2,00,000 No. of Shares

CONVERTIBLE WARRANTS:

(i) Ravi Kanaiyalal Sheth (Individual) : 1,00,000 No. of Warrants

(ii) Bharat Kanaiyalsl Sheth (Individual) : 1,00,000 No. of Warrants

(iii) Pradeep Vishwambharan (Promoter) : 4,00,000 No. of warrants

The convertible warrant has a right to convert into one equity share with in a period of eighteen months.

Source : Equity Bulls

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