NACL Industries informs about allotment of equity shares

25 Mar 2020

NACL Industries has informed that, the Warrant holders have exercised their right of converting the 2,50,00,000 Warrants, issued and allotted by the Company on 27th March, 2019 on preferential basis, by submitting Warrant Conversion Form along with Warrant Exercise Amount of Rs 24 per warrant (75% of the issue price) aggregating Rs 60,00,00,000. Upon the aforesaid exercise of options for converting the Warrants into Equity shares, the Stakeholders Relationship Committee (SRC), duly authorised by the Board of Directors in this regard, in its meeting held on Tuesday, the 24th day of March, 2020 has allotted 2,50,00,000 Equity Shares of face value of Re 1 each at an issue price of Rs 32 per share (premium of Rs 31 each) in the ratio of 1:1, the details of which are enclosed. Subsequent to allotment of the aforesaid equity shares, the paid up share capital of the Company stand increased from Rs 16,76,05,261 divided into 16,76,05,261 equity shares of Re 1 each to Rs.19,26,05,261 divided into 19,26,05,261 equity shares of Re 1. With this allotment of Equity Shares, all the Warrants issued earlier, to the enclosed allottees have been converted into equivalent number of Equity Share.

The above information is a part of company’s filings submitted to BSE.

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