Uflex allots equity shares & warrants at Rs 205

Uflex Ltd has announced that pursuant to the approvals received from members of the Company and Board of Directors/Committee of Directors and in-principle approvals received from Stock Exchanges, the Committee of Directors of the Company at their meeting held on February 26, 2008 has allotted equity shares and warrants on Preferential basis.

Tegraceen Holdings Ltd was allotted 4367500 shaers and 4367500 warrants on February 26, 2008 at a price of Rs 205. Vasteffect Ltd was allotted 4367500 shares and 4367500 warrants on February 26, 2008 at a price of Rs 205.

In accordance with the decision of the Committee of Directors and in terms of SEBI (DIP) Guidelines on preferential issues, only 10% of the amount was received upfront for allotment of warrants.

Source : Equity Bulls

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