Infibeam Incorporation Ltd approves allotment of 4,36,363 Equity Shares upon Conversion of warrant

Pursuant to the Special Resolution passed by the members of Infibeam Incorporation Ltd at their Extra Ordinary General Meeting held on Wednesday, February 22, 2017 and in accordance with In-principle approvals granted by the BSE Limited and the National Stock Exchange of India Limited, the Nomination and Remuneration Committee ("NRC") of our Company in its meeting held today i.e. on March 24, 2017 has allotted 4,36,363 Equity Shares of Face Value of Rs. 10/- each at a premium of Rs. 1,365/- per equity share to a body corporate other than the Promoters and Promoter Group i.e. Bennett Coleman and Company Limited ("BCCL"),on preferential issue basis upon conversion of one Convertible Warrant of Rs. 60.00 Crores (Rupees Sixty Crores Only).

These Equity Shares are pari passu with the existing Equity Shares of the Company in all respects. The Equity Shares will be locked in for a period of one year from the date of trading approval in terms of Regulation 78 of SEBI (ICDR) Regulations, 2009. The Company is in the process of applying for final listing of the above Shares on the BSE Limited and the National Stock Exchange of India Limited to complete the rest of the issue formalities.

Source : Equity Bulls

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