Mascon Global approves allotment of convertible warrants

Mascon Global Ltd has announced that the Preferential Issue Committee of Board of Directors of the Company at its meeting held on January 04, 2008, has considered and approved the allotment of Warrants as detailed below:

a. 1,000,000 nos. of warrants at an agreed price of Rs 19 per warrant to GPC Mauritius VII LLC.

b. 28,500,000 nos. of Warrants at an agreed price of Rs 19 per warrant to 43,500,000 to Mr. K Chandra, Executive Chairman & CEO.

The above Shares / Warrants would be subject to necessary Lock-in provisions, as per the SEBI guidelines.

Further, the Company will be utilizing the funds to meet the objects of the said Issue.

Source : Equity Bulls

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