Cable Corporation to allot shares on conversion of 15,25,000 warrants

Cable Corporation of India Ltd has announced that the Company has received letters dated April 03, 2007, from the following promoter Companies exercising their right of conversion against the equity options allotted to them as per SEBI guidelines and in terms of the authority given by the Shareholders at their meeting held on November 25, 2005 under Section 81(1A) of the Companies Act, 1956.

1. Sentouki Finance & Invt. Pvt Ltd: 7,00,000 No of Warrants
2. Krishabh Chemical & Plastics Pvt Ltd: 5,25,000 No of Warrants

In terms of the above a meeting of the Shareholders Grievances & Transfer Committee is scheduled to be held on April 09, 2007 to approve the allottement of the shares to the above mentioned Companies against exercise of their right of conversion of one equity share against one equity option.

Source : Equity Bulls

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