Kerala Ayurveda to issue warrants

Kerala Ayurveda Pharmacy Ltd has announced that, pursuant to the Scheme of Amalgamation and Arrangement between Kerala Ayurveda Pharmacy Ltd and Katra Healthcare Pvt Ltd, Bangalore, Board meeting held on February 24, 2006 allotted 24,97,475 warrants to Katra Holdings Ltd. As per the terms, the warrants shall be convertible at the option of the warrant holders at any time within a period of 60 months from the date of such issue of warrants. The Holders of warrant certificates are entitled to apply for and get allotted equity shares of the face value of Rs 10/- each fully paid up against each warrant held upon payment of Rs 42.85 per warrant. The warrant holders are also entitled to apply and get subdivided certificates while the exercising the right to convert to shares.

The company has so far received Rs 64583069/- from Katra holdings Ltd towards warrant application money.

Katra Holdings Ltd has expressed their intention to sub divide the warrant certificate issued to them and also to exercise their option for conversion of 15,07,189 warrants into equivalent equity shares of Rs 10/- each at a premium of Rs 32.85 per share, to the extent of the money already invested by them.

Board meeting held on October 30, 2006 constituted an Allottement Committee for subdivision of warrants issued to Katra Holdings Ltd., to complete the Allottement of equity shares against the warrant options as per the scheme of Amalgamation and Arrangement.

Source : Equity Bulls

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