Clutch Auto allots shares at Rs.118 on conversion of warrants

Clutch Auto Ltd has announced that the Board of Directors of the Company at its meeting held on March 31, 2007, has approved the allotment of fully paid up shares of Rs 10/- each @ premium of Rs 108/- per share on conversion of warrants allotted on preferential basis to the following person / corporate as detailed below:

1. Shri. Anuj Dayal (Relative of Promoters): 7,70,000 shares

2. M/s. Falcon Jersey Pvt Ltd: 7,50,000 shares

Further the Company has informed that, the closing market price of the share as on March 30, 2007 if Rs 107.95 against which the shares are allotted @ Rs 118/- per share.

Shares of the company were trading at Rs.118.05, up by Rs.10.10 or 9.36% on volume of 31146 shares compared to 2 week average quantity of 55334.

Source : Equity Bulls

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