Nagreeka Exports Board to consider allotment of 9,72,000 shares and 28,00,000 warrants

Nagreeka Exports Ltd has announced that a meeting of the Board of Directors of the Company will be held on June 30, 2007, to consider allotment of 9,72,000 equity shares of Rs 5/- each, fully paid up following conversion of 9,72,000 equity linked warrants of Rs 62.25 each issued and allotted on January 10, 2006.

Further the Company informed that, this is the 4th & last tranche of conversion of warrants into equity shares. The Members of the Company, in the Extraordinary General Meeting held on December 26, 2005, had passed special resolution for issue of 28,00,000 number of equity linked warrants at price of Rs 62.25 per warrant.

The stock closed the day at Rs.44, down by Rs.1.15 or 2.55%. The total traded quantity was 49568 compared to 2 week average of 200715. The stock hit an intraday high of Rs.47 and low of Rs.43.75.

Source : Equity Bulls

Keywords