Television Eighteen Allots Convertible Warrants

Television Eighteen India Ltd has announced that the Allotment Committee of the Board of Directors of the Company has allotted 50,00,000 (Fifty Lacs) Convertible Warrants to Network18 India Holdings Pvt Ltd, a wholly owned subsidiary of Network18 Fincap Ltd on Preferential Placement basis at a price of Rs 796/- each. The Warrant Holder shall be entitled to receive on conversion one equity share of Rs 5/- each at a premium of Rs 791/- for every Convertible Warrant held.

Further, the Warrant Holder shall also be entitled to future bonus / right issues, if any of the equity shares or other securities convertible into equity shares of the Company in the same proportion and manner as any other shareholder of the Company and the Company shall reserve proportion of such entitlement for the Warrant Holders.

Source : Equity Bulls

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