The committee of Television Eighteen India has allotted 50,00,000 convertible warrants to Network18 India Holdings, a wholly owned subsidiary of Network18 Fincap on preferential placement basis at a price of Rs 796 each. The warrant holder shall be entitled to receive on conversion one equity share of Rs 5 each at a premium of Rs 791 for every convertible warrant held.Further, the warrant holder shall also be entitled to future bonus / right issues, if any of the equity shares or other securities convertible into equity shares of the company in the same proportion and manner as any other shareholder of the company and the company shall reserve proportion of such entitlement for the warrant holders.
The company made this announcement during the trading hours today, on 11 October 2007.
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