Visesh Infotecnics to allot 12500000 warrants at Rs.52

Visesh Infotecnics Ltd has announced that the Board of Directors of the Company at its meeting held on October 03, 2006, inter alia, has discussed the matter related to the issue and allotment of 1,25,00,000 Warrants of Rs 52 each convertible into Equity shares of Rs 10/- each at a premium of Rs 42/- each to M/s Omkam Securities Pvt Ltd, M/s Cristina Vinimay Pvt Ltd, M/s Goyal Achal Sampatti Vikas and Niyojan Nigam Ltd, pursuant to the approval of the members of the company in the Extraordinary General Meeting (EGM) held on March 08, 2006.

In the said meeting, it was decided to allot 59,00,000 convertible Warrants at a price of Rs 52/- each to M/s Omkam Securities Pvt Ltd and not to other above mentioned corporate allottees as these two companies namely M/s Cristina Vinimay Pvt Ltd and M/s Goyal Achal Sampatti Vikas and Niyojan Nigam Ltd, have declined to accept the allotment of convertible warrants to them because of delay in allotment of warrants.

Therefore only 59,00,000 Lacs warrants have been allotted to the M/s Omkam Securities Pvt Ltd.

Source : Equity Bulls

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