GEI Hamon to issue 900000 warrants at Rs.58.50

GEI Hamon Industries Ltd has announced that the Board of Directors of the Company at its meeting held on April 28, 2007, inter alia, has taken the following decisions:

1. Issue of up to 900000 warrants convertible into equity shares at Rs 58.50 per warrant on a preferential basis to promoters and an Extra Ordinary General Meeting of the Company is scheduled to be held on May 28, 2007 for approving the same.

2. The Board has formed a Compensation Committee to formulate a suitable long term incentive model under Employees Stock Option or such other schemes.

3. Reconstitution of Board of Directors : This matter has been deferred to the next Board meeting scheduled to be held on May 18, 2007.

Source : Equity Bulls

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