Igarashi Motors allots 854900 warrants to Aeneas Evolution Portfolio

Igarashi Motors India Ltd has announced that pursuant to approval accorded by the members of the Company at an Extra ordinary General Meeting held on April 07, 2005 and the Committee of Board of Directors of the Company at a meeting held on April 12, 2005 has allotted to M/s. Aeneas Evolution Portfolio Ltd, Cayman Islands, of 8,54,900 Optionally Fully Convertible Warrants at a issue Price of Rs 180/- per warrant (Rs 18/- per warrant paid on allotment) and each warrant was convertible into one equity share of Rs 10/- each within 18 months (i.e. on or before October 11, 2006) period from the date of allotment of warrants (i.e. April 12, 2005).

Further the Company has informed that, the said 8,54,900 warrants issued to M/s. Aeneas Evolution Portfolio Ltd automatically lapsed since, M/s. Aeneas Evolution Portfolio Ltd has not exercised the option to convert them into 8,54,900 equity shares before end of exercise period i.e. October 11, 2006.

Source : Equity Bulls

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