Apollo Tyres allots 30 Lacs Shares on Conversion of Warrants

Apollo Tyres Ltd has announced that the Shareholders’ / Investors’ Transfer / Grievance Committee of the Company at its meeting held on November 07, 2007 has approved the allotment of 10,00,000 (ten lacs) and 20,00,000 (twenty lacs) equity shares of Re 1/- each to Apollo Finance Ltd. and Neeraj Consultants Ltd., Promoters Group Companies, respectively, on receipt of their request for conversion of warrants into equity shares.

The Company had allotted warrants to the Promoters on October 19, 2006 which were convertible into Equity Shares within 18 months of allotment i.e. by April 18, 2008.

Source : Equity Bulls

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