Varun Shipping to Issue shares on conversion of OFCWs allotted on preferential basis

Varun Shipping Company Ltd has announced that consequent to the exercise of option for conversion of 100,000 Optionally Fully Convertible Warrants (OFCWs), which were allotted on Preferential basis to Mr. Arun Mehta, Vice Chairman & Managing Director, the Committee of Directors at its meeting held on November 26, 2007, has issued and allotted 100,000 equity shares to Mr. Arun Mehta at a price of Rs 75 per share (i.e Rs 10 on capital account and Rs 65 on premium account).

Source : Equity Bulls

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