Morepen Laboratories Updates on warrants issue

With reference to the earlier announcement dated March 31, 2007, regarding the approval of the Board of Directors of the Company for issuance of warrants with rights attached to subscribe to equity shares, to new investors, existing bankers / Financial Institutions & Promoters at a price of Rs 20/- only which is a price based on SEBI formula, subject to the shareholders approval, Morepen Laboratories Ltd has announced that the total number of warrants to be issued has been erroneously reported as 5,36,50,000 instead of 7,36,50,000.

The stock closed the day at Rs.16.90, down by Re.0.10 or 0.59%. The total traded quantity was 149062 shares compared to 2 week average of 191447. The stock hit an intraday high of Rs.17.50 and low of Rs.16.80.

Source : Equity Bulls

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