Aseem Global Limited (BSE:534564) announced a private placement of 6,451,613 warrants on preferential basis at a price of INR 3.88 per warrant for gross proceeds of INR 25,032,258.44 on September 2, 2013. The warrants are exercisable at a price of INR 11.63. The warrants of face value INR 10 each will be issue at an exercise price of INR 15.50 each. The company will issue the warrants on a preferential basis to certain promoters and non-promoters of the company. The company will receive 25% of the exercise price as upfront payment at the time of issuance. The remaining 75% would be payable upon exercise of these warrants. The warrants will entitle the holder to purchase common shares of the company and the warrants will mature in 18 months from the date of issue. The transaction is subject to the receipt of shareholders approval in the ensuing annual general meeting.

On the same day, the company announced that transaction has been approved by the board of directors.

On September 30, 2013, the transaction was approved at the 30th annual general meeting of the company. The company will issue 4,980,645 warrants to members of promoter group and 1,470,968 warrants to members of non-promoter group.

On February 28, 2014, Aseem Global Limited cancelled the transaction.