Electrotherm India Ltd has informed that pursuant to the approval of the shareholders of the Company at the Extra Ordinary General Meeting held on March 01, 2007 and the meeting of the Committee of the Board of Directors of the Company held on September 13, 2008, the Company has allotted 5,00,000 equity shares at conversion price of Rs 600 per warrant to Promoter Group Company M/s. Western India Speciality Hospital Ltd on a preferential allotment basis on the exercise of the option for conversion of balance 5,00,000 warrants issued by the Company to M/s. Western India Speciality Hospital Ltd.
Consequently, on the allotment of 5,00,000 Equity Shares of Rs 10/- each as aforesaid, the paid up share capital of the Company as on September 13, 2008 stands increased to 1,14,76,374 equity shares of Rs 10/- each, amounting to Rs 11,47,63,740/- from 1,09,76,374 equity shares of Rs 10/- each amounting to Rs 10,97,63,740/-
Consequently, on the allotment of 5,00,000 Equity Shares of Rs 10/- each as aforesaid, the paid up share capital of the Company as on September 13, 2008 stands increased to 1,14,76,374 equity shares of Rs 10/- each, amounting to Rs 11,47,63,740/- from 1,09,76,374 equity shares of Rs 10/- each amounting to Rs 10,97,63,740/-
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