Ansal Housing to allot 711300 shares

Ansal Housing & Construction Ltd has announced that the Board of Directors of the Company at its meeting held on March 31, 2008, has approved the allotment of 7,11,300 equity shares to the Promoters of the Company on conversion of 7,11,300 warrants, each warrant convertible into one equity share of face value of Rs 10/- at a price of Rs 208/- (including premium of Rs 198/-) per equity share after receipt of balance 90% amount payable on these warrants from the respective allottees of these warrants and upon exercise of their option to get the warrants converted into equal number of equity shares. The above is the 1st conversion of the warrants out of a total nos. of 17,00,000 warrants which were allotted to the Promoters of the Company on January 12, 2008 and were to be exercised within a period of eighteen months from the date of allotment.

Source : Equity Bulls

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