Hazoor Multi Projects Ltd has informed that the Board of Directors of the Company at its meeting held on April 23, 2009, inter alia, has considered and made the allotment of 3,50,000 Equity Shares of Rs 4/- each at a price of Rs 16/- each (Rs 4/- each at a premium of Rs 12/- each) on conversion of equivalent number at share warrants out of 85,00,000 share warrants issued and allotted on Preferential Allotment Basis as shown below:
- Name of the Allottee : Pranam Reality Pvt. Ltd
- Number of Equity shares allotted on conversion : 3,50,000
- Category of Allottee : Body Corporate from Public- non promoter
Board also considered the extinguishment of 46,25,000 share warrants pending conversion, out of 85,00,000 share warrants issued on Preferential Allotment Basis on October 08, 2007 and forfeit the application money of Rs 74,00,000 paid on these warrants due to non-exercise of option to convert the warrants into equity shares by the warrant holders.
- Name of the Allottee : Pranam Reality Pvt. Ltd
- Number of Equity shares allotted on conversion : 3,50,000
- Category of Allottee : Body Corporate from Public- non promoter
Board also considered the extinguishment of 46,25,000 share warrants pending conversion, out of 85,00,000 share warrants issued on Preferential Allotment Basis on October 08, 2007 and forfeit the application money of Rs 74,00,000 paid on these warrants due to non-exercise of option to convert the warrants into equity shares by the warrant holders.
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