Sintex Industries - Allotment Of Equity Shares On Conversion Of Warrants

Sintex Industries Ltd has informed that, pursuant to the approval of the Shareholders of the Company at the Extra Ordinary General Meeting held on December 24, 2007, the Committee of the Board of Directors of the Company at its meeting held on March 24, 2008, has allotted the following equity shares of the Company at a conversion price of Rs 454.74 per warrant to Opel Securities Pvt Ltd & Kolon Investment Pvt Ltd, Promoter Group, on a preferential allotment basis on the exercise of the option for conversion of 1344000 warrants to each aggregating to 26,88,000 warrants out of aggregate 1,32,00,000 warrants issued by the Company to aforesaid Promoters in the meeting of its Committee of Directors held on January 18, 2008.
Details of Allotment of Equity Shares on conversion of Warrants:
Name of Allottee - Opel Securities Pvt Ltd
No. of warrants exercised for conversion - 1344000
No. of Equity Shares of Rs 2/- issued - 1344000
Name of Allottee - Kolon Investment Pvt Ltd
No. of warrants exercised for conversion - 1344000
No. of Equity Shares of Rs 2/- issued - 1344000
Consequently, on the issuance of 26,88,000 Equity Shares of Rs 2/- each as aforesaid, the paid up share capital of the Company as on March 24, 2008 stands increased to 13,64,95,433 equity shares of Rs 2/- each, amounting to Rs 27,29,90,866/-/- from 13,38,07,433 equity shares of Rs 2/- each amounting to Rs 26,76,14,866/-.