WS Industries to issue warrants at Rs 107

WS Industries India Ltd has announced that the Board of Directors of the Company at its meeting held on December 24, 2007, has considered and approved the issue of 600,000 warrants proposed to be made to the Promoters of the Company on preferential basis entitling the holder of each warrant to apply for and obtain allotment of one equity share against such warrant.

The allottee is the Promoters and No. of Warrants proposed to be allotted is 600,000.

The Issue price per warrant is Rs 107/-.

The Date of the General Body Meeting to consider the proposed issue is January 23, 2008 and Proposed issue within which the allotment is contemplated is 15 days from the date of the General Body Meeting.

The Board also approved issue of 350,000 Non Convertible Cumulative Redeemable Preference Shares of Rs 100/- each aggregating to Rs 35,000,000/- to the Promoters at such coupon rate, the terms of redemption and other conditions as may he agreed to between the Company and the allottees.

Source : Equity Bulls

Keywords