South Asian Petrochem warrants expire

South Asian Petrochem Ltd has announced that on the basis of approval of the shareholders at the Extra Ordinary General Meeting held on December 08, 2007, the Company had issued 1,40,64,273 convertible warrants on preferential basis to IFC / Promoter group on December 20, 2007.

The allottees had the option to convert the warrants into equity shares within eighteen months from the date of allotment. The period for exercising the option for the conversion of the said convertible warrants to equity shares expired on June 19, 2009.

None of the allottees have exercised the option for conversion.

Source : Equity Bulls

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