Kalindee Rail Nirman Engineers Ltd has informed that the Board of Directors of the Company at its meeting held on March 29, 2008 has decided that the Convertible Warrants as outstanding in Companys Books be converted into Equity as the money remaining outstanding from the Allottees has been received and that Allottees have exercised option for conversion of warrants to equity.
Accordingly the Board has allotted 230,000 No. of Equity shares in lieu of Convertible Warrants. Further the Company has informed that, the new equity shares shall rank pari passu in all respect with existing Equity Shares of the Company.
Accordingly the Board has allotted 230,000 No. of Equity shares in lieu of Convertible Warrants. Further the Company has informed that, the new equity shares shall rank pari passu in all respect with existing Equity Shares of the Company.
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