On 15 April 2014
The Board of Directors of Autolite (India) at its meeting held on 15 March 2014, inter alia, transacted the following :Conversion of 397,500 warrants into equity shares out of the 11,25,000 warrants which were earlier allotted to promoters and their associates on 16 October 2013 and the issue of which was approved by the shareholders at 36th Annual General Meeting of the Company held on 14 September 2013.
Authorised Board of Directors of the Company to make fresh issue of 600,000 warrants convertible within 18 months at Rs 18 per warrant convertible into one equity share of Rs 10 at a premium of Rs 8 per share on preferential basis to the promoter and strategic investors as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 subject to approval of members in the forthcoming Extra-ordinary General Meeting in the following manner:
(a) 500,000 warrants convertible within 18 months at Rs 18 per warrant convertible into one equity share of Rs 10 at a premium of Rs 8 per share on preferential basis to the promoters.
(b) 100,000 warrants convertible within 18 months at Rs 18 per warrant convertible into one equity share of Rs 10 at a premium of Rs 8 per share on preferential basis to the strategic investors.
Extra-ordinary General meeting of the Company shall be held on 15 April 2014 at the Registered Office of the Company at 11.00 a.m.
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