SreeRayalAlk - Outcome of Board Allotment Committee Meeting

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Sree Rayalaseema Alkalies & Allied Chemicals Ltd has informed BSE that the "Board Allotment Committee" in its meeting held on November 19, 2012 has allotted the following convertible Share Warrants to the Promoters pursuant to the Shareholders approval in the Annual General Meeting (AGM) held on September 28, 2012.

1. Name of the Promoter : M/s. Sree Rayalaseema Hi-strength Hypo Ltd.
No. of Warrants : 8291518
Face value of Warrant (Rs.) : 10/- each
Total Value (Rs.) : 8,29,15,180

2. Name of the Promoter : M/s. TGV Projects and Investments Pvt. Ltd.
No. of Warrants : 2936042
Face value of Warrant (Rs.) : 10/- each
Total Value (Rs.) : 2,93,60,420

Total Value : 11,22,75,600

The above convertible Share Warrants are issued @ Rs. 10/- each calculated in accordance with SEBI (ICDR) Regulations, 2009 and Shareholders' approval in the AGM held on September 28, 2012. Further, these Warrants will be converted into Equity in three tranches.

Story first published: Tuesday, November 20, 2012, 17:30 [IST]
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