Bilcare Allots Warrants Convertible into Equity Shares

Bilcare Ltd has announced that pursuant to the authorizations by the Members at their Extra-ordinary General Meeting held on December 23, 2006 and the authorization given by the Board of Directors at its meeting held on November 23, 2006, Finance Committee of Directors under delegated authority has approved the allotment of the following:

1. 7,45,000 Warrant 'A', entitling to apply for one Equity Share against each Warrant convertible into or exchangeable with Equity Shares at the price of Rs 535/- (including premium of Rs 525/-), being conversion price, of face value of Rs 10/- each and

2. 7,55,000 Warrant ‘B’, entitling to apply for one Equity Share against each Warrant convertible into or exchangeable with Equity Shares at price of Rs 535/- (including premium of Rs 525/-), being conversion price, of face value of Rs 10/- each; to Mrs. Nutan Bhandari, who is a part of Promoter Group and wife of Mr. Mohan Bhandari, Chairman and Managing Director of the Company.

Source : Equity Bulls

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