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The securities allotment and certificate issuance committee of Ganesh Polytex at its meeting on 05 December 2011 has made the allotment of 15,16,000 equity shares to the promoters of the company, consequent upon the exercise of conversion option attached to 15,16,000 warrants earlier allotted to the said promoters on preferential basis on 14 June 2010.
With the aforesaid allotment, the total paid-up equity share capital of the company has been enhanced from Rs 13.67 crore to Rs 15.19 crore divided into 1,51,86,000 equity shares of Rs 10 each.
Further, the committee has also decided to cancel the remaining 11,84,000 warrants allotted to the promoters & others on preferential basis on 14 June 2010 due to non-exercise of conversion option by the holders.
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