Moschip Semiconductor Allots Convertible Warrants at Rs.31

Moschip Semiconductor Technology Ltd has announced that the Board of Directors of the Company at its meeting vide circular resolution dated on December 21, 2006 has allotted 15,00,000 convertible warrants convertible into equal number of shares of Rs 10/- each at a price of Rs 31/- per warrant to be converted into equity shares within a period of 18 months from the date of allotment on preferential basis to the under mentioned investors:

1. K Ramachandra Reddy - 5,00,000 Warrants
2. C Dayakar Reddy - 5,00,000 Warrants
3. Achal Ghai - 3,00,000 Warrants
4. Dr Madhu Mohan Katikineni - 2,00,000 Warrants

Source : Equity Bulls

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