Magma Shrachi Finance Ltd has informed that the Management Committee Meeting of the Board of Directors (which has been authorized in this regard) of the Company held on February 04, 2008, has allotted 16,14,300 Equity Shares of Rs 10/- each to the holders of 30,00,000 - 5% Optionally Convertible Preference Shares (OCPS) at a conversion price of Rs 200/- per equity share. The allotment was made pursuant to the terms and conditions of the issue of OCPS which was issued by the Company on preferential basis on August 04, 2006. The said equity shares shall rank pari passu in all respects with the existing equity shares.
The paid up equity share capital of the Company shall now stand increased from 2,01,62,840 equity shares of Rs 10 each aggregating to Rs 20,16,28,400 to 2,17,77,140 equity shares of Rs 10 each aggregating to Rs 21,77,71,400.
The paid up equity share capital of the Company shall now stand increased from 2,01,62,840 equity shares of Rs 10 each aggregating to Rs 20,16,28,400 to 2,17,77,140 equity shares of Rs 10 each aggregating to Rs 21,77,71,400.
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