Outcome of board meeting of JHS Svendgaard Laboratories

Held on 05 January 2016

JHS Svendgaard Laboratories announced that the Board of Directors of the Company at its meeting held on 05 January 2016, inter alia, has transacted the following businesses:

1. Taking into consideration the application money received from some of the proposed allottees, the Board has considered and approved allotment of 1,26,74,748 Fully Convertible Warrants to the persons belonging to the Non-Promoter Category on a preferential basis at an issue price of Rs. 10/- per Warrant in accordance with the provisions of SEBI (ICDR) Regulations, 2009 read with Companies Act, 2013.

2. In terms of the mandate received from the allottees exercising their right of conversion in compliance with the provisions of SEBI (ICDR) Regulations, 2009, the Board has considered and approved part conversion of aforesaid Warrants, to the extent of 32,80,000 Warrants into equivalent no. of Equity Shares of face value of Rs. 10/- each.

Powered by Capital Market - Live News