Baba Arts allots 600000 equity shares

Baba Arts Ltd has announced that the Board of Directors of the Company vide Circular Resolution effective June 26, 2008, have allotted 6,00,000 equity shares of Rs 4/- each for cash at a premium of Rs 40/- per share (price of Rs 44/- per share) to Shri. Gordhan P Tanwani, Promoter of the Company against exercise of Optionally Fully Convertible Warrants held by him.