Vax Housing Finance Corporation Ltd: Outcome of Board Meeting

Vax Housing Finance Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 27, 2011, has allotted 7000000 convertible share warrants having face value of Rs.10/- each at the rate of Rs. 52.53 per warrants to the following allottees on preferential basis;

1. Name of Allottees : Sakira Finance Pvt Ltd
No. of Warrants Allotted : 700000

2. Name of Allottees : Mayur Pulses Pvt Ltd
No. of Warrants Allotted : 1200000

3. Name of Allottees : Suburban Cooling Towers Pvt Ltd
No. of Warrants Allotted : 700000

4. Name of Allottees : Air Travel Services Pvt Ltd
No. of Warrants Allotted : 1100000

5. Name of Allottees : The Billion Investment Pvt Ltd
No. of Warrants Allotted : 1100000

6. Name of Allottees : Bhavsar Enterprises Pvt Ltd
No. of Warrants Allotted : 1100000

7. Name of Allottees : Array Biomedicals Pvt Ltd
No. of Warrants Allotted : 1100000

The issue price of Rs. 52.53 each determined in accordance to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. These warrants shall be convertible into equal number of Equity Shares within a period not exceeding eighteen months from the date of allotment of the warrants, in one or more tranches.