Micro Technologies India allots 275000 Shares on Conversion of Warrants

The Allotment Committee of the Board of Directors of Micro Technologies (India) Ltd has in its meeting held on March 24, 2012, approved the allotment of 275000 equity shares to M/s. Micro Capitals Private Limited, Promoter Company and 300000 equity shares to Praval Engineering LLP. This Conversion has taken place pursuant to the conversion of 5,75,000 warrants, at the rate of one equity share for one warrant. These warrants had been allotted @ Rs. 139/- at the Annual General Meeting of the Company held on June 28, 2011.

Consequent to the aforesaid allotment, the paid up capital of the Company has gone up from 15,552,073 Equity Shares of Rs. 10/- each to 16,127,073 Equity Shares of Rs. 10/- each.

The Micro Technologies (India) Ltd stock closed the day at Rs.177, down by Rs.1.05 or 0.59%. The stock hit an intraday high of Rs.179.10 and low of Rs.174.40.

The total traded quantity was 0.22 lakhs compared to 2 week average of 0.31 lakhs.

Source : Equity Bulls

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