Lloyd Electric allots 50,00,000 warrants

Lloyd Electric & Engineering Ltd has announced that the Committee of the Board of Directors (CoD) of the Company held on September 11, 2007, has approved the allotment of 50,00,000 Warrants @ Rs 225/- per warrant on preferential basis to the following body corporates belonging to promoters / non-promoters group in accordance with the approval given by the members of the Company at the Extra Ordinary General Meeting held August 27, 2007.

1. M/s. Airserco Pvt Ltd - 15,00,000 warrants
2. M/s. Perfect radiators & Oil Coolers Pvt Ltd - 15,00,000 warrants
3. M/s. Rajul Estates Pvt Ltd - 20,00,000 warrants

The aforesaid warrants allotted on preferential basis shall be convertible into equal no. of equity shares of Rs 10/- each at a premium of Rs 215/- per share at the option of the warrants holders within 18 months from the date of allotment.

Source : Equity Bulls

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