The board of Ganesh Polytex in its meeting on 25 March 2010 has approved the allotment of 5,15,000 equity shares, consequent upon the exercise of conversion option attached to 5,15,000 warrants.
The board has approved the allotment of 19,50,000 equity shares to the promoters and others, consequent upon the exercise of conversion option attached to 19,50,000 warrants.
With both the aforesaid allotments, the total paid-up equity share capital of the company has been enhanced from Rs. 9.85 crore to Rs. 12.32 crore divided into 1,23,20,000 equity shares of Rs. 10 each.
The board has approved the issue of 30,00,000 warrants with the option of conversion of each warrant into one equity share to the promoter's group and others.
Further, the board has decided to convene extraordinary general meeting on 22 April 2010.
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