The shareholders of MIC Electronics have approved the allotment of 1,41,50,000 warrants on preferential basis to promoters convertible into one equity share of Rs 2 each at a premium of Rs 5.70 per share.
Further, the shareholders have approved the allotment of 3,65,25,000 warrants on preferential basis to investors convertible into one equity share of Rs 2 each at a premium of Rs 5.70 per share.
This was approved at the extraordinary general meeting held on 30 June 2012.