Modifation of Share warrants

If you want to modify the format of share warrants just pass a board resolution and adopt new format before use.

Regards

I believe you want to modify the terms and conditions of the share warrants, in which case, if the terms and conditions are issued in accordance with the board instructions, then you would have to get the revised terms approved by the Board, then permission sought from the warrant holders, obtain approval from the warrant holders and then notify in the next meeting.

Thank you, Rasesh sir,

The situation is the warrants are issued to promoters under section 81(1A) by a listed complying with all regulations and guide lines of SEBI and taking in principal approval from stock exchange. Kindly advise

As per my understanding after receiving In-principal approval u/c 24(a) it wouldn't be possible to modify terms and conditions of warrants. Now you have to file the listing application within one month of allotment.

With reference to your query kindly elaborate the words "modification of share warrants" to suggest something.

i also agree wid ankur sir.. it wouldn't be possible to modify terms and conditions of warrants.. please explain which type of modification in share warrants have to be going took place?

if I can understand between the lines, then you want to change the conversion rate or extend the date.

In that case, it would not be possible. Either the option has to be lapsed (redemption) or excercised partially (to the extent possible). Modification in such terms would not be possible.

Dear All,

Actually if the share warrants are converted into equity shares, it will attract the provisions of SEBI 

( substantial Acqusition of Shares) Regulation as the share warrants are totally issue to promoter group.

Inorder to avoid such problems i want to minimise the issue to promoters and outsiders.