GEE converts 5 Lakh warrants into shares

GEE Ltd has announced that the Board of Directors of the Company at its meeting held on February 27, 2008, inter alia, has allotted 5,00,000, Equity Shares of Rs 2/- each at a premium of Rs 33/- each upon conversion of Equity Share Warrants in the ratio of One Equity Share for every one Equity Share Warrant, to the following Non-promoter Body Corporate on a preferential basis as per terms of SEBI (DIP) Guidelines, from whom all the due amount thereof have been received fully, in cash, along with the respective conversion confirmation letter thereof, subject to conditions that such shares will not be sold / transferred / hypothecated until one year from the date of allotment of warrants.

Name of Allottee: Pan Emami Cosmed Ltd, No. of Shares Issued: 500,000.

Source : Equity Bulls

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