Rathi Udyog Cancels Preferential Warrants Issue

Rathi Udyog Ltd has announced that the Preferential Issue of warrants approved by the members in the EGM dated February 05, 2008 for issuance of 1,06,91,889 (One Crore Six Lakh Ninty One thousand eight hundred eighty nine only) convertible warrants at a price of Rs 10/- (Rupees Ten Only) including Rs 41/- (Rupees Forty One) premium per warrant on preferential basis, has been cancelled.

The proposed allottees have expressed their unwillingness to participate and subscribe to the above said proposed allotment of the securities of the Company.

In view of the withdrawal of consent by the proposed allottees, the Board has decided to cancel the above mentioned issue of warrants.

Source : Equity Bulls

Keywords