Aptech Board approves allotment of 4712500 warrants

Aptech Ltd has announced that the Board of Directors of the Company at its meeting held on October 01, 2006, has approved the allotment of 47,12,500 convertible warrants, on a preferential basis, to the following persons:

1. Shri. Gopikishan S Damani - 11,00,000 Warrants
2. Shri. Rakesh Jhunjhunwala - 7,00,000 Warrants
3. Smt. Rekha Jhunjhunwala - 20,00,000 Warrants
4. M/s. Ask Investment & Financial Consultants Pvt Ltd - 6,50,000 Warrants
5. Shri. Ramesh S Damani - 12,500 Warrants
6. Shri. Vijay Aggarwal - 2,50,000 Warrants

Each of the aforesaid warrants would be convertible at the sole option of the holder, any time before the expiry of 18 months, from its allotment into 1 fully paid up equity share of the Company of face value Rs 10/- each, at an exercise price (including premium) decided the Board of Directors which is not lower than the minimum price specified as per Clause 13.1.1.1 of Chapter XIII of SEBI Guidelines but not higher than Rs 113/- per warrant, and the issue of fresh equity shares upon conversion of the Warrants, shall be subject to such further terms & conditions, as may be finalised by the Board of Directors.

An amount of Rs 13/- per Warrant has been received from the allottees as on the date of allotment. The balance monies of Rs 100/- per warrant shall be payable by the allottees, at the time of conversion of the Warrants into equity shares.

Source : Equity Bulls

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