Mercator Lines allots shares

Mercator Lines Ltd has announced that the Board of Directors of the Company at its meeting held on July 30, 2007, inter alia, has approved the following: Allotment of 32,00,000 Equity Shares of Re 1/- each for cash at a price of Rs 137/50 per share (Inclusive of premium of Rs 136/50 per share) to AHM Investments Pvt Ltd.; the Promoter's Group Company, in lieu of exercise of option attached to the Warrant issued to them in accordance with special resolution passed by the shareholders of the Company in their Extra Ordinary General Meeting held on January 17, 2006 and SEBI Guidelines on preferential issue, and also the allotment of 48,00,000 Bonus Shares kept in abeyance out of the Bonus Issue of February 02, 2006.

Source : Equity Bulls

Keywords