Vikas EcoTech has informed in furtherance to communication dated November 1, 2023, with respect to allotment of 10,00,00,000 (Ten Crores) fully Convertible Warrants ('Warrants') to Vikas Garg, Promoter and Managing Director of the Company and in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that the Board of Directors of the Company in their meeting held on today, Wednesday, December 6, 2023, considered and approved the allotment of conversion of 3,00,00,000 warrants into 3,00,00,000 Equity shares of face value of Re 1 each, to ‘Vikas Garg, Promoter and Managing Director’, on preferential basis, upon receipt of balance amount aggregating to Rs. 7,65,00,000 (Rupees Seven Crores and Sixty-Five Lakhs only) at the rate of Rs. 2.55 (Rupees Two and Fifty-Five Paisa Only) per warrant (being 75% of the issue price per warrant) from the allottee pursuant to the exercise of his right of conversion into equity shares in accordance with the provisions of SEBI (ICDR) Regulations.
The above information is a part of company’s filings submitted to BSE.
