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| Exchange Disseminated Time | Shasun Pharmaceuticals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 23, 2014 has decided to issue and allot on preferential basis the following, subject to necessary approvals-
1. 35,00,000 equity shares of Rs 2 each at a price of Rs. 110 per share (including the premium of Rs. 108 per share) to M/S. Sequent Scientific Ltd, having its registered office at Mumbai.
2. 71,00,000 convertible warrants of Rs 110 each, with each warrant convertible into one equity share of Rs 2 each to M/S. Sequent Scientific Ltd, having its registered office at Mumbai.
The above mentioned equity shares and convertible warrant prices are not less than the price determined in accordance with the SEBI Guidelines. The convertible warrants will be converted into equity shares in line with the SEBI Guidelines. Extra Ordinary General Meeting (EGM) is being convened on May 21, 2014 to obtain the requisite approval of the shareholders. |
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