On non exercise of warrants
Provestment Services announced that the Company has forfeited the 591176 convertible Equity Share Warrants issued as Preferential Allotment to BCCL of Rs. 10/- each at a Premium of Rs.58.57/- per warrants, as per SEBI, ICDR Regulations, 2009 against which 25% Warrant Subscription Amount had been received by the Company.As the BCCL does not exercise its option to exercise all the Warrants within the Warrant Exercise Period of 18 months, the Warrant Subscription Amount has been forfeited and warrants has been lapsed by the Company.
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