Ashok Alco Chem Ltd allots securities to Aura Alkalies

The Board of Directors of Ashok Alco Chem Ltd at its meeting held on March 26, 2014, has allotted securities to Aura Alkalies and Chemical Private Limited, Promoter Group Company of the Company.

3,75,000 (Three Lacs Seventy Five Thousand) Equity Shares of Rs. 10/- each were allotted at an agreed price of Rs. 30/- per Equity Shares (face value Rs. 10/- and Premium Rs. 20/- per Equity Share) and 4,50,000 Warrants of Rs. 30/- each convertible into one or more tranches within a period of 18 months from the date of their allotment and each warrant shall be converted into one Equity Share of the Face Value of Rs. 10/- each and at a premium of Rs. 20/- per equity share.

Pursuant to the above allotment of the above Equity Shares, the paid up equity capital of the Company has increased from Rs. 3,77,53,430 divided into 37,75,343 Equity Shares of Rs. 10/- to Rs. 4,15,03,430 divided into 41,50,343 Equity Shares of Rs. 10/-.

The new Equity Shares shall rank pari-pasu with the then Existing Equity Shares of the Company in all respects including right as to dividend.

Shares of ASHOK ALCO-CHEM LTD. was last trading in BSE at Rs.18.9 as compared to the previous close of Rs. 19.85. The total number of shares traded during the day was 729 in over 8 trades.

The stock hit an intraday high of Rs. 19.8 and intraday low of 18.9. The net turnover during the day was Rs. 14103.

Source : Equity Bulls

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