Software Technology Group allots 25,00,000 warrants at Rs.13.50 to strategic investors

Software Technology Group International Ltd has announced that the Board of Directors of the Company at its meeting held on April 05, 2007 has allotted 25,00,000 convertible warrants at a price of Rs 13.50/- per warrant to the following Non-Promoter Strategic Investors with an option to the warrant holder(s) to convert these into equal number of equity Shares of the face value of Rs 10/- each at a premium of Rs 3.50/- per Share, accorded by the Shareholders of the Company at their Extra General Meeting held on March 02, 2007:

a. BITS Ltd: 24,00,000 No of warrants allotted
b. Aspiring Equity Services Pvt Ltd: 50,000 No of warrants allotted
c. Ashish Chugh: 50,000 No of warrants allotted

Shares of the company were trading at Rs.12.15, down by Re.0.09 or 0.74%. The total traded quantity was 1500 shares compared to 2 week average quantity of 14211 shares.

Source : Equity Bulls

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