Premier allots warrants to promoters

Premier Ltd has announced that the Board of Directors of the Company at its meeting held on March 13, 2007, has allotted 43,26,000 convertible warrants at a price of Rs 39.43 per warrant to M/s. Modena Investment and Trading Co. Pvt. Ltd., one of the Promoters of the Company, on Preferential Basis in terms of the SEBI Guidelines for Preferential Issue.

Further the Company has informed that, the said warrants are convertible into an equivalent number of equity shares of Rs 10/ each, at a premium of Rs 29.43 per share within 18 months from the date of allotment.

Source : Equity Bulls

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