GEI Industrial EGM approves issue of 9,00,000 warrants

GEI Industrial Systems Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on May 28, 2007, inter alia, have accorded authority to the Board to create, offer, issue and allot up to 9,00,000 warrants convertible into equity shares at Rs 58.50 per warrant on preferential basis to the proposed allottees, subject to necessary provisions & approvals.

The stock closed the day at Rs.66.40, up by Rs.1.75 or 2.71%. The stock hit an intraday high of Rs.72.25 and low of Rs.65.75. The total traded quantity was 122541 compared to 2 week average of 165950.

Source : Equity Bulls

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