Grabal Alok Impex to allot 19,00,000 shares on conversion of warrants

Grabal Alok Impex Ltd has announced that the Company on February 01, 2007 has received a notice from Megallan, for conversion of 19,00,000 warrants into equity shares of the Company. Accordingly, the said 19,00,000 warrants converted into 19,00,000 equity shares of Rs 10/- each for cash at a premium of Rs 99/- per share in accordance with SEBI Guidelines for Preferential Allotment and the Company at the meeting of the Executive Committee of the Board of Directors (CoD) held on February 01, 2007, has issued and allotted 19,00,000 equity shares to Megallan.

The Company will make an application for listing of 19,00,000 equity shares. By virtue of conversion of the above referred 19,00,000 Warrants into equity, the paid up equity share capital of the Company has increased from 1,39,44,935 equity shares of the face value of Rs 10/- each to 1,58,44,935 equity shares of the face value of Rs 10/- each.

Source : Equity Bulls

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