Riga Sugar to issue 925925 warrants

Riga Sugar Company Ltd has announced that the Board of Directors of the Company at its meeting held on December 10, 2007, has decided to issue upto 9,25,925 convertible equity share warrants of Rs 10/- each at price of Rs 27/- per each to be converted at the option of the warrant holder within 18 months from the date of allotment into 1 fully paid up equity share of the Company of face value of Rs 10/- each for cash at an exercise price of Rs 27/- (including premium of Rs 17/-) for each warrant to the promoters (upto 5,00,000 warrants) and to other (4,25,925 warrants) subject to approval of the shareholders and in accordance with SEBI (DIP) Guidelines.

Further the Company has informed that, the Board also convened Extra-Ordinary General Meeting of the Members of the Company to approve aforesaid matter on January 02, 2008.

Source : Equity Bulls

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