Geojit Financial allots shares to BNP Paribas S.A on preferential basis

Geojit Financial Services Ltd has announced that pursuant to the receipt of shareholders’ approval by a Special Resolution at the Extra Ordinary General Meeting held on November 22, 2006 and other statutory approvals, the Board of Directors of the Company at its meeting held on March 13, 2007, has issued and allotted to BNP Paribas S.A., on a preferential basis, 5,68,04,870 equity shares of the face value of Re 1 each ("Equity Shares") in the Company at a price of Rs 26 per Equity Share and 2,28,26,300 warrants (the "Warrants"), each Warrant is convertible into 1 Equity Share, at a price of Rs 26 per Warrant. Each of the Warrants is convertible into 1 Equity Share within a period of 18 months from the date of their allotment, such conversion being in accordance with the terms and conditions for the issue of the Warrants.

Source : Equity Bulls

Keywords