Aptech EGM okays issue of 47 lakh convertible warrants
Aptech, which held an extra ordinary general meeting, approved issue of 47,62,500 warrants, convertible into an equal number of equity shares of Rs 10 each within 18 months from their allotment, at a price not higher than Rs 113 per warrant, including premium. The amount of Rs 13 per warrant will be payable on the date of allotment and the balance Rs 100 will be payable at the time of conversion.
The shareholders approved the issue of the convertible warrants to investors on preferential basis. The shareholders approved issuing 11 lakh warrants to Mr Gopikishan S. Damani, seven lakh warrants to Mr Rakesh Jhunjhunwala and 20 lakh warrants to Ms Rekha Jhunjhunwala, 6.50 lakh warrants to ASK Investment & Financial Consultants Pvt Ltd, 12,500 warrants to Mr Ramesh S. Damani, 50,000 warrants to Mr C.Y. Pal and 2.50 lakh warrants would be issued to Mr Vijay Aggarwal.
"The money is proposed to be utilised for repayment of debt, investments in IT infrastructure and systems, setting up training centres for "train the trainers programme", and some possible acquisitions," according to Mr Pramod Khera, Managing Director.
The shareholders have also approved re-appointment of Mr Pramod Khera as the Managing Director for a period of five years with effect from December 28.
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