Pan Packaging approves conversion of warrants at Rs.109

Pan Packaging Industries Ltd has announced that the Board of Directors of the Company at its meeting held on April 25, 2007, inter alia, has approved the conversion of 3,52,000 Warrants into 3,52,000 Equity Shares of the face value of Rs 10/- each at a premium of Rs 99/- per Equity Share to M/s. KDS Corporation Pvt Ltd (Promoter Group Company) and 2,57,000 Warrants into 2,57,000 Equity Shares of the face value of Rs 10/- each at a premium of Rs 99/- per Equity Share to M/s. Basic Soft Solutions Pvt Ltd (Non-Promoter Group Company) as approved by the shareholders of the Company in their Extra Ordinary General Meeting of the Company held on January 15, 2007.

The stock was trading at Rs.150, down by Rs.1.05 or 0.70%. The stock hit an intraday high of Rs.151.30 and low of Rs.150. The total traded quantity was 3660 compared to 2 week average of 4962.

Source : Equity Bulls

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