Regaliaa Realty approves issue of warrants

Regaliaa Realty Ltd has announced that the Board of Directors of the Company at its meeting held on August 10, 2007, has approved issue of convertible warrants on preferential basis to the following, subject to necessary approvals of the members and other applicable statutory authorities, in one or more trenches at the price as per SEBI guidelines. The details of the proposed preferential issue are as follows:

a) 5,40,000 Warrants to Mr. D Sudhakara Reddy - Promoter Director

b) 2,34,000 Warrants to Mrs. D Usha Reddy - Promoter

c) 3,96,000 Warrants to Mr. Devendra K Shah - Non-Promoter

Each of the Warrant is convertible into one Equity share of the Company of nominal value of Rs 10/- each at a price of Rs 20.25 which includes a premium of Rs 10.25 per share. The warrants shall be convertible into equity shares at any time within 18 months from the date of allotment.

Source : Equity Bulls

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