Ennore Coke to issue shares, warrants on rights basis

Ennore Coke Ltd has announced that the Board of Directors of the Company at its meeting held on December 14, 2006, inter alia, has also discussed and decided the following:

1. Issue of 1,50,00,000 Equity Shares of Rs 10/- each for cash at a premium of Rs 10/- per Equity Share on Rights Basis to the existing Equity Shareholders of the Company in the ratio of 30 Equity shares for every 1 Equity Share held on the Record Date amounting to Rs 3000 lakhs.

2. Issue of 3,00,00,000 convertible warrants on Rights Basis to the existing Equity Shareholders of the Company in the ratio of 60 Convertible warrants for every 1 equity shares held on the Record Date, Convertible into 60 Equity shares of the Company during the warrant conversion period amounting to Rs 6000 lakhs at a floor price aggregating to Rs 9000 lakhs.

Source : Equity Bulls

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