ISMT allots Warrants on preferential basis to Promoters

ISMT Ltd has announced that pursuant to the Special Resolution passed at the Annual General Meeting of the Company held on November 27, 2007 and in-principle approval received from the Stock Exchanges, the Committee of Directors of the Company at its meeting held on December 18, 2007 has issued and allotted 57,50,000 Warrants to the Promoters on preferential basis. The said Warrant holders have the right to apply for and get allotted one Equity Share of Rs 5/- each at a price of Rs 91.80 per share (including a premium of Rs 86.80 per share) within 18 months from the date of allotment.

Source : Equity Bulls

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