Riga Sugar allots 925925 Convertible Warrants

Riga Sugar Company Ltd has announced that the Committee for Issue of Share Warrants of the Board of Directors of the Company at its meeting held on January 25, 2008 have allotted 9,25,925 convertible equity share warrants to be convertible at the option of warrant holder in one or more trenches, within 18 months from the date of its allotment into 1 fully paid up equity share 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 following persons belonging to the promoter group and to others in accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000:

Promoters:

a. The Belsund Sugar & Industries Ltd: 5,00,000 No. of Convertible Warrants allotted

Others:

b. Nupur Professional Aid Pvt Ltd: 1,50,000 No. of Convertible Warrants allotted

c. Madhyam Vyapaar Pvt Ltd: 1,50,000 No. of Convertible Warrants allotted

d. Walter Vanijya Pvt Ltd: 1,25,925 No. of Convertible Warrants allotted.

Source : Equity Bulls

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