ABG Shipyard Ltd allots 9883783 shares on conversion of CCPS

The Security Issue Committee of the Board of Directors of ABG Shipyard Ltd has, at its meeting held on February 28, 2015, have allotted 98,83,783 (Ninety Eight Lac Eighty Three Thousand Seven Hundred and Eighty Three) Nos. of 0.01% Compulsorily Convertible Preference Shares Rs. 10/- (Rupees Ten Only) each at Par value to the CDR Lenders as per CDR Package on preferential basis under Chapter VII -"Preferential Issue" of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The said allotment of 98,83,783 (Ninety Eight Lac Eighty Three Thousand Seven Hundred and Eighty Three) Nos. of 0.01% Compulsorily Convertible Preference Shares Rs. 10/- (Rupees Ten Only) each shall be fully paid-up at the time of allotment and shall be subject to the lock-in for such period as may be prescribed under the SEBl ICDR Regulations.

Shares of ABG SHIPYARD LTD. was last trading in BSE at Rs.237.05 as compared to the previous close of Rs. 242.85. The total number of shares traded during the day was 99766 in over 2845 trades.

The stock hit an intraday high of Rs. 245 and intraday low of 234.2. The net turnover during the day was Rs. 23697654.

Source : Equity Bulls

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