Arihant Foundations Board to decide on conversion of 150000 warrants

Arihant Foundations & Housing Ltd has announced that the Company has received a request from a holder of 150000 convertible warrants with the balance exercise price for conversion into 1 fully paid up equity shares of face value of Rs 10 each at an exercise price of Rs 201 (including premium of Rs 191). The convertible warrants were allotted on September 28, 2005 at 10% of the total Exercise price and the period of expiry of conversion is on or before March 27, 2007. In this regard a meeting of the Board of Directors of the Company will be held on November 11, 2006 to approve the aforementioned conversion and allotment of Equity Shares.

Source : Equity Bulls

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