GTL Infrastructure allots 18102 equity shares upon conversion of FCCBs

GTL Infrastructure Ltd has announced that the Committee of Board at its meeting held on May 11, 2007, has considered and approved Allotment of 18,102 Equity Shares of Rs 10/- each for cash at par, in terms of the Offer Document of GTL Ltd and Scheme of Arrangement & Reconstruction approved by the Hon'ble High Court of Judicature at Bombay, consequent upon the exercise of right to convert FCCBs worth Swiss Francs (SFr.) 4854.35.

The stock was trading at Rs.34.25. The stock hit an intraday high of Rs.34.85 and low of Rs.33. The total traded quantity was 70152 compared to 2 week average of 173901.

Source : Equity Bulls

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