Broadcom Ltd exercises warrants option to acquire India Cements shares

India Cements Ltd has announced that Broadcom Ltd, Mauritius, the warrants holder on September 06, 2006, has exercised the option to acquire 52,85,814 equity shares of Rs 10/- each fully paid up on conversion of 52,85,814 Equity Warrants in terms of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

Further the Company has informed that, a meeting of the Committee of Board of Directors (CoD) of the Company will be held on September 07, 2006 to consider allotment of 1,37,43,118 Equity Shares of Rs 10/- each fully paid-up in favour of Broadcom Ltd and ASPDIN Ltd who have exercised option for conversion of warrants into equity shares.

Source : Equity Bulls

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