Madhya Desh Papers warrants lapse

Madhya Desh Papers Ltd has announced that Dear the warrant holders holding 15,00,000 Convertible Warrants ("Warrants") had not opted to convert the said warrants into equity shares within the time limit of 18 months (i.e. on or before December 2008) in terms of Chapter XIII of the SEBI DIP Guidelines, 2000 (Guidelines).

Accordingly, the upfront payment of Rs 33,00,000/- made by the following warrant holders, being 10% of the Issue Price of the 15,00,000 convertible warrants stands forfeited in terms of the Guidelines :

Name of Warrant Holders : Anubhavdarshan Buildcon Pvt Ltd, 10% of Issue Price : Rs 715000

Name of Warrant Holders : Poojadarshan Buildcon Pvt Ltd, 10% of Issue Price : Rs 715000

Name of Warrant Holders : Adivaibhav Infrastructures Pvt Ltd, 10% of Issue Price : Rs 715000

Name of Warrant Holders : Jagdamba Buildcon Pvt Ltd, 10% of Issue Price : Rs 715000

Name of Warrant Holders : Rahul Mehta, 10% of Issue Price : Rs 363000

Name of Warrant Holders : Sheetal Mehta, 10% of Issue Price : Rs 77000

Source : Equity Bulls

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