Hiran Orgochem to allot shares and warrants on preferential basis

Hiran Orgochem Ltd has announced that the Board of Directors of the Company at its meeting held on February 13, 2007, has allotted the following securities on preferential allotment basis in accordance with the resolution passed by the members at the Extra Ordinary General Meeting held on January 30, 2007.

1. 9,10,000 Equity Shares of Rs 10/- each for cash at a premium of Rs 120/- per share.

2. 16,75,000 Optionally Fully Convertible Warrants (OFCWs) (Warrants), each Warrant convertible at the sole option of the holders thereof, any time on or after April 01, 2007 but before expiry of 18 months from the date of allotment thereof, into 1 fully paid up equity share of the Company of face value of Rs 10/- at an exercise price (including premium) of Rs 130/- per warrant.

Source : Equity Bulls

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