Malwa Cotton - Outcome of Board Meeting
Malwa Cotton Spinning Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 27, 2009, has approved the allotment of 11,00,000 Equity Share Warrants to the promoters' Group Companies on preferential basis for cash. The Equity Share Warrants entitles the warrant holders to convert each warrant into one equity share of Rs 10/- each at a premium of Rs 10/- per share arrived at as per SEBI Guidelines at any time within a period of 18 months.