Phillips Carbon to issue 25,00,000 warrants at Rs.149

Phillips Carbon Black Ltd has announced that the Board of Directors of the Company at its meeting held on January 31, 2007, inter alia, has resolved that subject to the approval of the Members;

1. Promoters / promoters group, be offered on a preferential basis upto 25,00,000 convertible warrants ("Warrants") of the Company with an option to subscribe for one equity share of Rs 10 each at Rs 149/- per share within 18 months of the issue of Warrants in accordance wit the applicable SEBI guidelines.

2. Lend Lease Company (India) Ltd be offered on a preferential basis upto 5,00,000 convertible warrants ("Warrants") of the Company with an option to subscribe for one equity share of Rs 10 each at Rs 149/- per share within 18 months of the issue of Warrants in accordance with the applicable SEBI guidelines.

Source : Equity Bulls

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