Khaitan Electricals converts warrants into equity shares

Khaitan Electricals Ltd has announced that the Board of Directors of the Company at its meeting held on March 12, 2007, has approved the following:

1. Conversion of Balance 5,00,000 Equity Shares Warrants to Equity Shares to Promoters (10,00,000 Nos Warrants Allotted to Promoters on March 28, 2006 and out of which 5,00,000 Nos already Converted to Equity Shares on June 30, 2006).

a. M/s. Khaitan Lefin Ltd: 1,00,000 (No. of Warrants converted to Equity Shares)

b. M/s. The Oriental Mercantile Company Ltd: 3,00,000 (No. of Warrants converted to Equity Shares)

c. Sri. Shree Krishna Khaitan: 50,000 (No. of Warrants converted to Equity Shares)

d. Sri. Sunil Krishna Khaitan: 50,000 (No. of Warrants converted to Equity Shares).

2. Conversion of 8,00,000 Equity Share Warrants to Equity Shares to Promoters (10,00,000 Nos Equity Share Warrants Allotted to Promoters December 14, 2006 out of the above 8,00,000 Nos converted to Equity Shares on March 12, 2007 and pending warrants after Allotment 2,00,000 Nos)

a. M/s. Khaitan Lefin Ltd: 8,00,000 (No of Warrants converted to Equity Shares)

Source : Equity Bulls

Keywords