Himadri Chemicals allots 15,00,000 shares at Rs.219.25

Himadri Chemicals & Industries Ltd has announced that the Board of Directors of the Company at its meeting held on December 02, 2006, has allotted the 15,00,000 Equity shares of Rs 10/- each at a premium of Rs 219.25 per share (determined as per Guidelines for Preferential Issues under SEBI (Disclosure & Investors Protection Guidelines, 2000) and 85,000 Convertible Warrants with an option to subscribe up to 85,000 equity shares of Rs 10/- each at a price of Rs 229.25 per shares to the following Promoter Group:

A. Equity Shares:

1. Himadri Industries Ltd - 625000 No. of shares

2. Himadri Credit & Finance Ltd - 325000 No. of shares

3. Himadri Coke & Petro Ltd - 550000 No. of shares

B. Warrants:

Himadri Industries Ltd - 85000 No. of Warrants

The allotment is made in terms of the special resolution passed by the Shareholders at their Extra-Ordinary General Meeting held on November 19, 2006 and subject to the provision of SEBI Disclosure & Investors Protection Guidelines, 2000 issued by Securities and Exchange Board of India (SEBI), Guidelines issued by Reserve Bank of India, Government of India and other applicable laws.

Source : Equity Bulls

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