New Delhi: SpiceJet shareholders have approved issuance of more than 6.4 crore convertible warrants to its promoters -- Kalanithi Maran and Kal Airways.
The low cost carrier would issue up to 45,000,000 warrants to Kal Airways and 19,169,000 warrants to Maran, according to a regulatory filing today.
There would be the option to convert these warrants into equivalent number of shares, each with a face value of Rs 10 per piece.
The proposal was approved by the shareholders through postal ballots.
According to the postal ballot notice, the currency of warrants to subscribe to equity shares would be 18 months from the date of allotment of warrants.
11/02/14 PTI/Business Standard
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The low cost carrier would issue up to 45,000,000 warrants to Kal Airways and 19,169,000 warrants to Maran, according to a regulatory filing today.
There would be the option to convert these warrants into equivalent number of shares, each with a face value of Rs 10 per piece.
The proposal was approved by the shareholders through postal ballots.
According to the postal ballot notice, the currency of warrants to subscribe to equity shares would be 18 months from the date of allotment of warrants.
11/02/14 PTI/Business Standard
