Tata Tea to issue shares, warrants to Tata Sons Ltd

Tata Tea Ltd has announced that the Committee of Directors (CoD) appointed by the Board of Directors of the Company at its meeting held on November 20, 2006, has approved allotment of the following securities in favour of Tata Sons Ltd, the main promoter of the Company:

1. 28,10,000 equity shares of Rs 10 each fully paid at a price of Rs 777/- per share

2. 28,10,000 warrants of Rs 10 each with option to convert each warrant into one equity share of Rs 10 each of the Company at any time after April 01, 2007 but not later than March 31, 2008. Against each warrant, the Company has received 10% of the value in accordance with SEBI (DIP) Guidelines, 2000.

Source : Equity Bulls

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