Sanghvi Movers allots shares on conversion of warrants

Sanghvi Movers Ltd has announced that the Board of Directors of the Company at its meeting held on October 22, 2007, inter alia, has considered and allotted 8,33,420 Equity Shares of Rs 2/- each of the Company on exercise of option of 1,66,684 Warrants issued to the Promoters of the Company, as a result of Sub-division of Shares one warrant converted into 5 equity shares of Rs 2/- each (As per the terms of warrant one warrant to be converted into one equity share of Rs 10/- each. The details are as follows:

1. Mrs. Sanghvi Mina Chandrakant

- No of warrants converted : 1,03,684
- No of shares allotted (face value of Rs 2/- each) : 5,18,420

2. M/s. Sanghvi Hi-Lift Pvt Ltd

- No of warrants converted : 63,000
- No of shares allotted (face value of Rs 2/- each) : 3,15,000

Consequently, the fully paid-up capital of the Company stands increased to Rs 8,22,42,840/- dividend into 4,11,21,420 equity shares of Rs 2/- each.

Source : Equity Bulls

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