Sri Adhikari Brothers Television Network allots convertible warrants

Sri Adhikari Brothers Television Network has announced that the Board of Directors of the Company at its meeting held on 18 March 2014, upon receipt of 25% of issue price from the allottees, has allotted 1,00,00,000 Warrants convertible into even number of equity shares of Rs 10 each of the Company at an issue price of Rs 75.10 (including premium of Rs 65.10) per share to the entities in the promoter group and others on preferential basis in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The above warrants entitle the allottees to apply for and be allotted even number of equity shares for each warrant held by them on payment of balance 75% of the issue price within 18 months from the date of issue of such warrants.

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