Axtel Industries allots 20,00,000 warrants

Axtel Industries Ltd has announced that the Board of Directors of the Company at its meeting held on January 18, 2007, inter alia, has allotted 20,00,000 warrants of Rs 10/- each for cash at par aggregating Rs 2/- crore which would be exchanged with equity shares at a later date.

The above referred allotment has been made as per the special resolution passed at the extra ordinary general meeting (EGM) of the Company held on January 04, 2007.

The entire pre-preferential shareholding of the above allottees shall be under lock-in from the date of allotment (i.e. January 18, 2007) upto a period of six months (i.e. July 18, 2007).

The amount paid towards above referred warrants shall be adjusted against price payable subsequently for acquiring the equity shares by exercising an option for the purposes.

Source : Equity Bulls

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