Sat Investeck to Allot Equity Shares / Warrants

Sat Investeck Ltd has announced that the Board of Directors of the Company at its meeting held on December 22, 2006 has allotted:

a. 22,00,000 Equity Shares of Rs 2/- each at a premium of Rs 9/— per share

b. 44,00,000 Warrant of Rs 11/— each Warrant convertible into Equity Shares

to Sat Invest Pvt Ltd on preferential basis pursuant to the resolution passed by the Members of the Company under section 81(1A) of the Companies Act,1956 at the Extra Ordinary General Meeting held on December 12, 2006.

With the allotment of the above equity shares the paid—up capital of the Company will increase from Rs 64950000/- to Rs 69350000 divided into 34675000 shares of Rs 2/- each.

Source : Equity Bulls

Keywords