Maximus International informs about outcome of board meeting

16 Jul 2024 Evaluate
With reference to communication dated 9th April, 2024, w.r.t. to allotment of warrants, in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Maximus International has informed that the Board of Directors of the Company in their meeting held today i.e. Tuesday, 16th July, 2024, considered and approved the allotment of Equity Shares on conversion of 46,86,000 warrants into 46,86,000 Equity Shares at an issue price of Rs 20.50 each (including a premium of Rs 19.50 each), to Non-Promoters Category, on preferential basis, upon receipt of balance amount aggregating to Rs 7,20,47,250 (Rupees Seven Crores Twenty Lakhs Forty Seven Thousand Two Hundred and Fifty Only) being 75% of the issue price per warrant, from the allottees pursuant to the exercise of their rights of conversion into equity shares in accordance with the provisions of SEBI (ICDR) Regulations, 2018 and list of allottees is enclosed as Annexure-I. Pursuant to members approval, these warrants were issued, in terms of SEBI (ICDR) Regulations, 2018 to Non-Promoters Category, on preferential basis, at an Issue Price of Rs 20.50/- per warrant on payment of Rs 5.125 per warrant, being 25% of the Issue Price, entitling the warrants holders to get their warrants converted into equal number of Equity Shares of the Company by paying remaining 75% i.e., Rs 15.375 per warrant within 18 months from the date of warrant allotment. Consequent to the aforesaid conversion / allotment, the paid-up equity capital of the Company has increased from Rs 13,13,50,000 consisting of 13,13,50,000 Equity Shares of Re 1 each to Rs 13,60,36,000 consisting of 13,60,36,000 Equity Shares of Re 1 each. The new equity shares so allotted, shall rank pari-passu with the existing equity shares of the Company. Further, no warrants are outstanding for conversion. The Company has received In-principle approval from BSE vide their letter No: LOD/PREF/DA/FIP/1502/2023-24 dated 26th March, 2024. Details as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/ 4/2015 dated September 9, 2015 and SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated 13th July, 2023, is enclosed as Annexure-II. The Meeting of the Board of Directors commenced at 10.15 AM and concluded at 11.00 AM.
The above information is a part of company’s filings submitted to BSE.

Maximus Internatl. Share Price

18.66 -0.98 (-4.99%)
21-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
Redington 191.50
Adani Enterprises 2182.55
Amrapali Industries 18.01
Rashi Peripheral 361.95
Compuage Infocom 2.58
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.