Almondz Global to issue shares at Rs.80

Almondz Global Securities Ltd has announced that the Board of Directors of the Company at its meeting held on August 06, 2007, inter alia, has considered and discussed, the proposal for making further issue of capital through preferential allotment of Equity Shares as well as Warrants.

1. Issuance of 1537500 Equity Shares on preferential basis to the Promoters / Promoter Group(s) / including Person/s acting in Concert with them (PACs) and Other Investors or Select Group of Persons at a price of Rs 80/- (including a premium of Rs 74/-), and 1000000 Warrants, convertible into equity shares, on preferential basis to the Promoters / Promoter Group(s) / including Person/s acting in Concert with them (PACs) at a price of Rs 80/- (including a premium of Rs 74/-), in accordance with the Guidelines prescribed by the Securities And Exchange Board of India (SEBI) and Listing Agreement/s entered into by the Company with the Stock Exchanges, where the shares of the Company are listed, and subject to the consent of the shareholders of the Company in the General Meeting and approval of stock exchanges; and

2. Calling of an Extraordinary General Meeting of the Company in relation to the Preferential Issue of Equity Shares as well as Warrants.

The stock was trading at Rs.71.30, up by Rs.7.05 or 10.97%. The stock hit an intraday high of Rs.73 and low of Rs.64. The total traded quantity was 304784 compared to 2 week average of 141090.

Source : Equity Bulls

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