Southern Ispat allots 5155000 shares

Southern Ispat Ltd has announced that the Board of Directors of the Company at its meeting held on January 02, 2009, inter alia, has allotted 5155000 Equity Shares of Rs 10/- each at a premium of Rs 0.20 Paise to the warrant holders as per list placed by the Chairman and necessary distinctive numbers be given to them.

It was further resolved that in respect of the three persons who have not exercised their option to convert the warrants into equity shares the warrants numbering 345000 against which Rs 351900 was received, be forfeited including the amount paid on them towards the Company.

Source : Equity Bulls

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