Agro Dutch allots Convertible Warrants on Preferential Basis

Agro Dutch Industries Ltd has announced that the Committee of the Board at its meeting, has decided to issue 1,00,00,000 warrants, Convertible at the option of the warrant holder(s) within an aggregate time period of eighteen months from the date of allotment of warrants into 1,00,00,000 equity shares of Rs 10/- each at a premium of Rs 17.50 per share for cash as determined in accordance with the relevant SEBI guidelines to the promoters i.e. Mr. Malvinder Singh & Mr. Gurpreet Singh, Person acting in concert i.e. Vishwa Calibre Builders Pvt Ltd & associate Company i.e. Penta Homes Pvt Ltd on preferential basis.

Further the Company has informed that, an Extra Ordinary General Meeting of the shareholders of the Company will be held on November 20, 2006, to approve the preferential allotment pursuant to provisions of section 18 (1) (A) with all other applicable provisions.

Source : Equity Bulls

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