Orbit Exports Ltd to consider allotment of shares on conversion of warrants

A meeting of the Board of Directors of Orbit Exports Ltd will be held on March 20, 2014, to allot 1,50,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 76.57/- per Share(including Premium @ Rs. 66.57 per share) to the following holders holding 1,50,000 Optionally Fully convertible Warrants (OFCWs) of Rs. 76.57/- each in aggregate upon exercise of option to convert each OFCW into 1 Equity Share of the Company.

The Board will allot 75,000 Equity Shares of Rs. 10/- each to Mr. Pankaj Seth at an Issue Price of Rs. 76.57/- per Share (including premium @ Rs. 66.57/- per share) upon exercise of option to convert 75,000 OFCWs of Rs. 76.57/- each and allot 75,000 Equity Shares of Rs. 10/- each to Mrs. Anisha Seth at an Issue Price of Rs. 76.57/- per Share (including premium @ Rs. 66.57/- per share) upon exercise of option to convert 75,000 OFCWS of Rs. 76.57/- each.

Shares of ORBIT EXPORTS LTD. was last trading in BSE at Rs.104.9 as compared to the previous close of Rs. 101.65. The total number of shares traded during the day was 39135 in over 407 trades.

The stock hit an intraday high of Rs. 105.25 and intraday low of 100.4. The net turnover during the day was Rs. 4009940.

Source : Equity Bulls

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