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Outcome of board meeting of Ashok Alco Chem

Capital Market/ 14:28 , Mar 26, 2014

Held on 26 March 2014

Ashok Alco Chem has announced that the Board of Directors of the Company at its meeting held on 26 March 2014, has allotted the following securities to Aura Alkalies and Chemical, Promoter Group Company of the Company:

3,75,000 equity shares of Rs 10 each at an agreed price of Rs 30 per equity ahares (face value Rs 10 and premium Rs 20 per equity share) and

4,50,000 warrants of Rs 30 each convertible into one or more tranches within a period of 18 months from the date of their allotment and each warrant shall be converted into one equity share of the face value of Rs 10 each and at a premium of Rs 20 per equity share.

Pursuant to the above allotment of equity shares, the paid up equity capital of the Company has increased from Rs. 3.77 crore divided into 37,75,343 equity shares of Rs 10 to Rs 4.15 crore divided into 41,50,343 equity shares of Rs 10.

 



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