Millars India EGM approves Preferential allotment of equity shares

Millars India Ltd has announced that in accordance with the special resolution passed by the members of the Company at the Extraordinary General Meeting (EGM) held on January 02, 2007, and in consideration of the application money received, the Board of Directors of the Company, at its meeting held on January 15, 2007, has made a preferential issue and allotment of 3,51,000 Equity shares of Rs 10/- each at a price of Rs 80/- per share (including premium of Rs 70 per share) for cash and 13,50,000 convertible warrants, each warrant carrying right to subscribe to one Equity shares of Rs 10/- each at a price of Rs 80/- (including premium of Rs 70/- per share) for cash with a paid up value of Rs 8 per warrant (being 10% of the issue price) to the following allottees namely:

1. Skyline Vision Pvt Ltd: 1,17,000 No of shares & 4,50,000 No of Convertible Warrants

2. Dave Builders Pvt Ltd: 1,17,000 No of shares & 4,50,000 No of Convertible Warrants

3. Jatin Daisaria Realtors Pvt Ltd: 1,17,000 No of shares & 4,50,000 No of Convertible Warrants

Source : Equity Bulls

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