Held on 19 March 2014
Garden Silk Mills has announced the revised outcome of Board Meeting of the Company held on 19 March 2014:The Board approved the proposal for issue / allotment of 1842105 equity shares of Rs 10 each fully paid up at a premium of Rs 28 per share to the warrant holder, who is part of promoters group on exercise of option for conversion of the warrants.
Consequent to the said allotment, the paid up equity share capital of the company has increased from 38290560 equity shares of Rs 10 each aggregating to Rs 38.29 crore to 40132665 equity shares of Rs 10 each aggregating to Rs 40.13 crore.
The aforesaid equity shares so allotted on conversion of the share warrants shall be locked-in for a period of 3 (three) years from the date of allotment i.e. 19 March 2014 in terms of SEBI (ICDR) Regulations 2009 and rank pari passu in all respects with the existing fully paid up equity shares of the Company.
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