Impex Ferro allots 60 Lakh convertible warrants

Impex Ferro Tech Ltd has announced that the Board of Directors of the Company at its meeting held on July 02, 2008, after receiving In-Principal approval from stock exchanges and approval of the members of the Company at the Extra Ordinary General Meeting held on June 17, 2008, have allotted 60,00,000 (Sixty Lacs) Convertible Warrants at a price of Rs 22.25/- each, which are convertible into equal number of Equity shares of Rs 10/- each at a premium of Rs 12.25/- within a period of 18 months, on preferential basis to the Promoters and Strategic Investors belonging to Non-promoter group.

Mr. Suresh Kumar Patni (Promoter) - No of Warrants : 1000000

Mrs. Virendra Kumar Jain (Promoter) - No of Warrants : 1000000

Piper Securities Pvt Ltd (Non Promoter) - No of Warrants : 4000000.

Source : Equity Bulls

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