On conversion of warrants
Sri Adhikari Brothers Television Network announced that the Board of Directors of the Company at its meeting held on 28 March 2014, inter alia, has considered the following matters:1. Allotted 28,20,000 Equity Shares of Rs. 10/- each of the Company for cash at an issue price of Rs. 75.10 (including premium of Rs. 65.10) per share upon conversion of 28,20,000 warrants issued on preferential basis in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, upon receipt of balance 75% consideration of the issue price.
After this allotment, the paid up share capital of the Company is increased to Rs. 27.76 crore divided into 2,77,64,500 equity shares of Rs. 10/- each.
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