United Breweries converts 1971218 warrants

United Breweries Holdings Ltd has announced that the Adhoc Committee of Directors of the Company, appointed for this purpose, at its meeting held on January 28, 2008, has converted 1,971,218 Warrants into equal number of equity shares of Rs 10/- each at a premium of Rs 1,100/- per equity share, of the Company, to FirStart Inc, a member of the Promoter Group, on Preferential basis.

Consequent upon the conversion of 1,971,218 Warrants into equity shares to FirStart Inc, the total issued and paid up capital of the Company stands increased to Rs 668,185,210 dividend into 66,818,521 equity shares of Rs 10/- each.

The new 1,971,218 Equity Shares of Rs 10/- each now allotted to FirStart Inc will be Locked-in for a period upto December 12, 2008 in compliance with the Clause 13.3 and 13.4 of the SEBI (Disclosure and Investor Protection) Guidelines, 200 as amended and Regulations of SEBI (Substantial Acquisition of Shares & Takeover) Regulation 1997 as amended.

Source : Equity Bulls

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