Mascon Global to issue 24,55,000 shares at Rs.19 to promoter

Mascon Global Ltd has announced that the Preferential Issue Committee of Board of Directors at its meeting held on April 03, 2007, has considered and approved the allotment of 24,55,000 no of equity shares at a price of Rs 19 per share (including premium of Rs 9/- per share) to Mr. K Chandra, Executive Chairman, CEO & CFO on conversion of the warrants allotted to him into equity. The Company has received the balance 90% of the funds in its account.

The above shares / warrants would be subject to necessary Lock-in provisions, as per the SEBI Guidelines.

Shares of the company closed the day at Rs.10.03, up by Re.0.35 or 3.62%. The volume was 787090 compared to 2 week average quantity of 715045 shares.

Source : Equity Bulls

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