Financial Daily from THE HINDU group of publications
Thursday, Aug 18, 2005

Port Info

Group Sites

Info-Tech - Preferential Allotments

SSI shareholders okay pref issue to promoters

Our Bureau

Chennai , Aug. 17

THE shareholders of SSI Ltd on Wednesday approved the issue of equity shares and convertible warrants on a preferential basis to its promoters.

Mr K.S. Aghoram, Mr K.S. Suresh and Mr K.S. Ganesh are each to be allotted 14.16 lakh shares of face value Rs 10 each. The board of directors is to decide the price at which these shares are to be allotted to the promoters. The shares are not to be lower than a minimum price specified as per the guidelines and not higher than Rs 40 per share.

Also, the three promoters were each allotted 2.91 lakh warrants (each warrant being equal to one share of Rs 10) convertible any time before 18 months from the date of allotment.

A sum of Rs 34.92 lakh, that is, 10 per cent of the subscription price of equity shares, would be paid on allotment of warrants. For determining the issue price, under the SEBI guidelines, the date with regard to the preferential issue of shares and warrants would be July 18, 2005.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
SSI shareholders okay pref issue to promoters

EMC sees headroom for growth here
Sony Ericsson mobile can sing and click too
BSNL to go in for additional 6 cr mobile phone lines
FLAG complains to TRAI about VSNL blocking access
Indicom Gem unveiled in Kerala
`Techno city' to be set up near Capital
Sasken joins ARM program
PIB Malayalam site launched
SoftBank arm buys 14 pc stake in VisualSoft for Rs 35.5 crore
SumTotal eyes more buys, to invest $10 m more
Sahara Computers buys distribution co
UK's Ventura sets up offshore centre in Pune
Digital library plan — Has Google bitten off more than it could chew?

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line