Salzer Electronics allots 500000 warrants at Rs.78

Salzer Electronics Ltd has announced that the sub committee of the Board of Directors of the Company in its meeting held on March 03, 2006 allotted 500000 shares warrants of Rs 10/- with the premium of Rs 68/- per warrant convertible into equity shares at a later date i.e. within 18 months from the date of the allotment to the promoters, Promoters Group Companies, friends and relatives with the lock in period as per SEBI Guidelines i.e upto March 03, 2009.

Of the allotment of the share warrants, the holders of 250000 share warrants as detailed below had submitted their applications along with the original share warrant certificates exercising their options and rights to convert their warrants into the equity shares. Accordingly the Sub Committee of the Board of Directors of the company at its meeting held on March 14, 2007, has allotted 250000 equity shares in physical form as against the same number of share warrants with the lock in period for the remaining period as that of the subject share warrants as per SEBI Guidelines i.e. upto March 03, 2009 as detailed below:

1.(a)Name of the Allottees - Mr. R Doraiswamy
(b)No of Share Warrants Allotted - 50,000
(c)No of Shares warrants surrendered for equity shares - 50,000
(d)No of Equity shares allotted as against the warrants - 50,000

2.(a)Name of the Allottees - Mr. D Rajeshkumar
(b)No of Share Warrants Allotted - 25,000
(c)No of Shares warrants surrendered for equity shares - 25,000
(d)No of Equity shares allotted as against the warrants - 25,000

3.(a)Name of the Allottees - Mr. D Vishnu Rangaswamy
(b)No of Share Warrants Allotted - 25,000
(c)No of Shares warrants surrendered for equity shares - 25,000
(d)No of Equity shares allotted as against the warrants - 25,000

4.(a)Name of the Allottees - M/s. SRVE Industries Ltd
(b)No of Share Warrants Allotted - 1,00,000
(c)No of Shares warrants surrendered for equity shares - 1,00,000
(d)No of Equity shares allotted as against the warrants - 1,00,000

5.(a)Name of the Allottees - M/s. R Health Care P Ltd
(b)No of Share Warrants Allotted - 50,000
(c)No of Shares warrants surrendered for equity shares - 50,000
(d)No of Equity shares allotted as against the warrants - 50,000

Source : Equity Bulls

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