Confidence Petroleum India has informed that warrant holders (Promoter Group entities) have exercised their right for conversion of the warrants into equity shares of the Company. Consequently, the Board of Directors of the Company at their meeting held on 14th March, 2021 has allotted 1,01,76,923 equity shares of face value of Re 1 each (with a premium of Rs 51 per equity share) pursuant to exercise of 1,01,76,923 convertible warrants. These equity shares allotted on conversion of the warrants, shall rank pari passu, in all respects with the existing equity shares. Post the allotment of equity shares, the paid up equity shares of the Company has increased from Rs 27,38,35,000 to Rs 28,40,11,923.
The above information is a part of company’s filings submitted to BSE.