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| Exchange Disseminated Time | | CTIL Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 13, 2013, have taken on record the exercise of conversion option by the holders of 33,34,612 Convertible Equity Share Warrants of Rs. 10/- each at a premium of Rs. 3/- per Warrant Issued on November 14, 2011. Out of 33,34,612 Convertible Equity Share Warrants issued on November 14, 2011, only 16,28,203 warrant holders paid the full allotment money of Rs. 13/- per share and the Company has not received full allotment money from warrant holders holding 17,06,409 warrants. The Board of Directors of the Company have therefore allotted 16,28,203 Equity Shares of the face value of Rs. 10/- per Equity Share to the holders of 16,28,203 Convertible Equity Share Warrants. The remaining 17,06,409 of Convertible Equity Share Warrants on which the Company has not received the balance allotment money were cancelled and the application money received in respect of these warrants stands forfeited as per the terms of the issue of the said Convertible Equity Share Warrants. |
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