Source Natural Foods and Herbal Supplements Ltd to consider allotment of shares

A meeting of the Board of Directors of Source Natural Foods and Herbal Supplements Ltd will be held on January 06, 2014, to consider and approve the allotment of 7,00,000 Equity Shares of face value of Rs. 10/- each upto Rs. 12.74 per share (including premium of Rs. 2.74 per share thereof) and 12,36,891 Equity share warrants @ Rs. 12.74 each, convertible into 12,36,891 Equity shares of Rs. 10/- each @ up to Rs. 12.74 per equity share (including premium thereof) (convertible into 9,00,000 Equity shares on or before September 30, 2014 and balance 3,36,891 Equity shares in April, 2015 i.e. within a period of 18 months from the date of issue/ allotment) to the existing Promoter Company upon conversion of the Unsecured loan of Rs. 2,46,76,000/- (Rupees Two Crore Forty Six Lakhs Seventy Six Thousand only) to the promoter, Sumeru Ayurveda Private Limited.

Shares of Source Natural Foods and Herbal Supplements Ltd was last trading BSE at Rs.14.32, down by Rs.0.29 or 1.98%. The stock hit an intraday high of Rs.14.32 and intraday low of Rs.14.32.

The total traded quantity was 10 shares as compared to 2 week average of 464 shares.

Source : Equity Bulls

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