Accentia Technologies approves allotment to Sheth Brothers

Accentia Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on October 22, 2007, inter alia, has considered and accorded the following:

1. Approved the allotment of the equity shares and warrants, comprising of 2,00,000 equity shares to Mr. Ravi K Sheth, 2,00,000 equity shares to Mr. Bharat K Sheth of Great Eastern Shipping Group and Warrants of 1,00,000 each to Mr. Ravi K Sheth and Bharat K Sheth of Great Eastern Shipping Group and 4,00,000 warrants to the Promoter Director Mr. Pradeep Suseela Viswambharan.

2. The Company has received in-principle approval for the allotment of preferential equity shares numbering 4,00,000 and 6,00,000 warrants.

Source : Equity Bulls

Keywords