Deccan Gold forfeits warrants money

Deccan Gold Mines Ltd has announced that Sun Mining and Exploration Ltd, Cyprus (Sun), which was issued 110,77,027 convertible warrants at a price of Rs 15.10/- per warrant on May 01, 2006, has not opted to convert the said warrants into equity shares within the time limit of 18 months (on or before October 31, 2007) in terms of Chapter XIII of the SEBI DIP Guidelines, 2000 (Guidelines). Accordingly, the upfront payment of Rs 1.67 crore made by Sun, being 10% of the Issue Price of the 110,77,027 convertible warrants stands forfeited in terms of the Guidelines.

Source : Equity Bulls

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