Sequent Scientific approves issue of Warrants on Preferential basis

The Board of Directors of Sequent Scientific Ltd has on August 30, 2012 approved issue of upto 21,00,000 warrants on a preferential basis to the Promoters / Promoter Group, subject to shareholders' approval and necessary regulatory approvals.

The warrants will be convertible into equivalent number of equity shares of Rs. 10/- each and will be issued at a price not lower than the price specified in Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and on such further terms and conditions specified in the said guidelines.

The Sequent Scientific Ltd stock closed the day at Rs.109.20, down by Rs.1.10 or 1%. The stock hit an intraday high of Rs.115.80 and low of Rs.109.10.

The total traded quantity was 3057 compared to 2 week average of 14241.

Source : Equity Bulls

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