KLG Systel to issue warrants to promoters at Rs.261

KLG Systel Ltd has announced that the Board of Directors of the Company at its meeting held on January 17, 2006 has passed the resolutions for Allotment of 10,70,000 warrants to the promoters of the company on Preferential basis @ Rs 261/- per warrant convertible at the option of the warrant holder into equity shares of Rs 10/- each at a premium of Rs 251/- per share, which is arrived at in accordance with Chapter XIII of SEBI (DIP) guidelines on Preferential issues, which was earlier approved by the shareholders in their Extra Ordinary General Meeting held on January 05, 2007.

Source : Equity Bulls

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