IOL Chemicals - Outcome Of Board Meeting

IOL Chemicals & Pharmaceuticals Ltd has informed that the Board of Directors of the Company at its meeting held on February 14, 2007, has allotted 14,00,000 equity shares of Rs 10/- each for cash at a premium of Rs 45/- per share to the following persons against the outstanding warrants issued on February 09, 2006.1. Shiva Enterprises Ltd - 4,70,000 No of shares 2. Sundram Commercials Ltd - 4,70,000 No of shares 3. Sunlight Commercial & Trading Ltd - 4,60,000 No of shares Further the Company has informed that, Consequent upon the same, the total paid-up capital of the Company stands increased to 94,50,000 fully paid equity shares of Rs 10 each and the net worth of the Company will increase by Rs 7.70 cores.