Greenply Industries converts 4 Lakh warrants

Greenply Industries Ltd has announced that the Board of Directors of the Company at its meeting held on November 30, 2007, has converted 4,00,000 Convertible Warrants no. 2 of Rs 5/- each issued at a premium of Rs 109/- per warrant through Preferential issues in the year 2006-2007 to M/s Greenply Leasing & finance Ltd (Promoter-Body Corporate) into equity shares of the Company.

Further the Company has informed that 4,00,000 Equity Shares issued and allotted to Greenply Leasing & Finance Ltd on November 30, 2007 are under lock in and non transferable up to November 29, 2010.

The paid-up equity capital of the Company has been increased from Rs 8,29,87,230/- to Rs 8,49,87,230/-.

Source : Equity Bulls

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