CMI Ltd to issue shares, warrants

The Board of Directors of CMI Ltd at its meeting held on March 19, 2016, has decided, subject to approval of shareholders through Postal ballot/Extra Ordinary General Meeting, to issue upto maximum of 15,00,000 Equity Shares having face value of Rs. 10/- each, on to Non promoters, on preferential basis, upto maximum of 10,00,000 Equity Shares having face value of Rs. 10/- each, to promoter, on preferential basis and upto maximum of 10,00,000 Warrants convertible into equal number of equity share having face value of Rs. 10 /- each to the promoters.

The relevant date on Which price is to be calculated shall be determined in accordance with Chapter VII of the SEBI (ICDR) Regulations.

The Board has allotted 7,00,000 Equity Shares consequent upon conversion of 7,00,000 Warrants.

Shares of CMI LTD. was last trading in BSE at Rs.312 as compared to the previous close of Rs. 306.4. The total number of shares traded during the day was 13346 in over 126 trades.

The stock hit an intraday high of Rs. 313 and intraday low of 305.8. The net turnover during the day was Rs. 4128715.

Source : Equity Bulls

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