Electrotherm India Allots 2,50,000 Equity Shares at Rs.156

Electrotherm India Ltd has announced that pursuant to the approval of the shareholders of the Company at the Extra Ordinary General Meeting held on August 26, 2005 and the meeting of the Committee of the Board of Directors of the Company held on January 22, 2007, the Company has allotted 2,50,000 equity shares of the Company at conversion price of Rs 156 per warrant to M/s. Highland Finances & Investments Pvt Ltd on a preferential allotment basis on the exercise of the option for conversion of 2,50,000 warrants out of 30,00,000 warrants issued by the Company to non-promoters, in the meeting of the Board of Directors of the Company held on September 09, 2005.

Consequently, on the allotment of 2,50,000 Equity Shares of Rs 10/- each as aforesaid, the paid up share capital of the Company as on January 22, 2007 stands increased to 5016375 equity shares of Rs 10/- each, amounting to Rs 5,01,63,750/- from 4766375 equity shares of Rs 10/- each amounting to Rs 4,76,63,750/-.

Source : Equity Bulls

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