Starlite Components Ltd converts warrants into equity shares

The Board of Directors of Starlite Components Ltd at its meeting held on July 06, 2015, has approved the conversion of warrants.

The 30,00,000 warrants that had been issued by the Company to a public investor, in accordance with the Rehabilitation Scheme sanctioned by the Hon'ble Board for Industrial and Financial Reconstruction (BIFR), has been converted into equivalent number of shares upon balance amount due on the warrants being paid by the warrant holder.

The 42,00,000 warrants that had been issued by the Company to promoter of the Company, in accordance with the Rehabilitation Scheme sanctioned by the Hon'ble Board for industrial and Financial Reconstruction (BIFR), have been converted into equivalent number of shares upon balance amount due on the warrants having been paid by the warrant holder.

The Board also approved the issue of 9,00,000 equity shares of face value of Rs. 10/- each on preferential basis to promoter and their associates.

Source : Equity Bulls

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