Sanghvi Movers allots 12,87,000 shares

Sanghvi Movers Ltd has announced that the Board of Directors of the Company at its meeting held on November 13, 2007, has considered and allotted 12,87,000 Equity Shares of Rs 2/- each of the Company on exercise of option of conversion of 2,57,400 Warrants of Rs 10/- each issued at Rs 700/- per warrant to the Promoter of the Company. The details are as follows:

- Name of Promoter : Mrs. Sanghvi Mina Chandrakant

- No of Warrants Converted : 2,57,400

- No of Shares allotted (Face Value of Rs 2/- each) : 12,87,000

- Remark : As per the terms of warrant, one warrant converted into one Equity Share of Rs 10/- each and then pursuant to Sub-division of Equity Shares, Five Shares of Rs 2/- each issued to the promoter against the conversion of said warrant.

Further new shares are ranking pari passu with the existing equity shares of the Company in all respects including dividend. Consequently the fully paid-up capital of the Company stands increased to Rs 8,48,16,840/- divided into 4,24,08,420 Equity Shares of Rs 2/- each.

Source : Equity Bulls

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