Usha Martin allots Warrants to Promoters

Usha Martin Ltd has announced that in pursuance to the approval received from the shareholders of the Company, at the Extraordinary General Meeting held on December 07, 2007, the Directors of the Company on December 21, 2007 by circulation, has allotted 38500000 warrants, each convertible into one equity share at the option of holders within a period of 18 months from the date of allotment, at a price of Rs 87/- each in accordance with SEBI [Disclosure & Investor Protection] Guidelines, 2000, as amended, on preferential allotment basis to certain Companies in the promoters group against 10% advance received from said allottee Companies.

Source : Equity Bulls

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