Kamdhenu Ispat allots 2788934 Warrants

Kamdhenu Ispat Ltd has announced that the "Preferential Allotment Committee" of the Company at its meeting held on April 17, 2008, has allotted 27,88,934 warrants convertible into equity shares of the Company to the Promoter, Promoter Group and other business investors. These warrants entitle the holder thereof to apply for and obtain allotment of one equity shares of the face value of Rs 10/- each at a premium of Rs 27/- per share, within a period of 18 months from the date of issue of this warrant, as per the Guidelines for Preferential Issue contained in Chapter XIII of SEBI (Disclosures & investor Protection Guidelines, 2000.

The issue of these warrants was earlier approved by the Board of Directors in their meeting held on January 30, 2008 and by the Member in the Extra-Ordinary General Meeting held on March 03, 2008 and the Company also received 'In principal approval' from the Stock Exchange on April 03, 2008.

Source : Equity Bulls

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