Electrotherm India allots equity shares on preferential basis

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 February 27, 2007, the Company has allotted:

1. 2,50,000 Equity Shares to M/s. Lavish Packagers Ltd

2. 10,00,000 Equity Shares to M/s. Leadhaven Pte Ltd

3. 10,00,000 Equity Shares to M/s. Catleshine Pte Ltd

at conversion price of Rs 156 per warrant on a preferential allotment basis on the exercise of the option for conversion of 22,50,000 warrants issued by the Company to non-promoters.

Consequently, on the allotment of 22,50,000 Equity Shares of Rs 10/- each as aforesaid, the paid up share capital of the Company as on February 27, 2007 stands increased to 7766375 equity shares of Rs 10/- each, amounting to Rs 7,76,63,750/- from 5516375 equity shares of Rs 10/ each amounting to Rs 5,51,63,750/-.

Source : Equity Bulls

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