Latest Stock News: Alok Industries Ltd
Alok Industries Ltd has informed that the members of the Company will consider approving the following Resolutions by way of Postal Ballot——————-
1. To offer and issue for cash on a preferential basis
(i) upto 13,75,000 Equity Shares of face value Rs 10/- each of the Company at a premium of Rs 92/- per share to the Promoter Group of the Company being the price determined In accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000, as in force on the date of this Notice on or before February 26, 2008; and
(ii) upto 2,00,00,000 Warrants to the Promoter Group of the Company, each Warrant entitling the holder thereof to apply for and be allotted one equity share of the Company, on payment of an exercise price of Rs 102/- per share, (including premium of Rs 92/- per share) being the price determined in accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000, as in force on the date of this Resolution, at any time within 18 months from the date of allotment of the Warrants, in two stages viz.
(a) upto 1,00,00,000 Warrants to be converted into Equity Shares on or before March 31, 2009; and (b) upto 1,00,00,000 Warrants to be converted into Equity Shares on or before July 31, 2009 and on such terms as may be deemed appropriate by the Board, subject to necessary provisions & approvals.
Via
Posted on 17th January 2008
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