Ceat Ltd Updates on Transfer of Warrants

Ceat Ltd had at its Meeting of the Board of Directors on September 30, 2010 allotted 7,12,170 warrants of face value of Rs. 10/- each convertible into equivalent number of equity shares of the Company to one of the Company of the promoter group viz. Summit Securities Limited upon receipt of the In-Principal approval from Stock Exchanges.

In this connection, the Company had, vide letter dated March 16, 2012, intimated to the Stock Exchanges that the said partly paid warrants were transferred by Summit Securities Limited to its wholly owned subsidiary Instant Holdings Limited (also part of the promoter group).

The Company have now received an intimation dated March 26, 2012 from Instant Holdings Limited that it has further transferred the said warrants to its wholly owned subsidiary Company Goodhope Sales Private Limited on March 26, 2012.

The Ceat Ltd stock closed the day at Rs.86.45, down by Rs.1.15 or 1.31%. The stock hit an intraday high of Rs.88.85 and low of Rs.84.80.

The total traded quantity was 0.24 lakhs compared to 2 week average of 0.33 lakhs.

Source : Equity Bulls

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