Regaliaa Realty allots warrants

Regaliaa Realty Ltd has announced that the Board of Directors of the Company at its meeting held on September 21, 2007, has allotted and issued fully convertible warrants on preferential basis 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.

THe Board also noted the receipt of 10% Upfront money from the Allottes and deposited the same with the Bank.

Source : Equity Bulls

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