NHC Foods Ltd allots 19,03,600 shares on conversion of OCRPS

The holders of Optionally Convertible Redeemable Preference Shares (OCRPS) have exercised their right of conversion of OCRPS into equity shares and accordingly the Board of Directors at their meeting held on February 20, 2014 have allotted 19,03,600 Equity Shares of Rs. 10/- each fully paid up on account of conversion of 19,03,600 OCRPS of Rs. 10/- each (i.e. the ratio of 1 Equity Share for every 1 OCRPS held).

The conversion of OCRPS into Equity shares has been done on the terms and conditions as mentioned in the Scheme of Amalgamation between NHC Industries Private Limited and NHC Foods Limited (formerly known as Midpoint Software & Electro Systems Limited) duly approved by the Hon'ble High Court of Bombay vide its order dated August 13, 2010.

Shares of NHC FOODS LTD. was last trading in BSE at Rs.37 as compared to the previous close of Rs. 37.9. The total number of shares traded during the day was 5297 in over 64 trades.

The stock hit an intraday high of Rs. 38.9 and intraday low of 36.75. The net turnover during the day was Rs. 203065.

Source : Equity Bulls

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