Mercator Lines approves issue of 2,85,00,000 warrants

Mercator Lines Ltd has announced that the Board of Directors of the Company at its meeting held on September 13, 2007, inter alia, has approved the issue of up to 2,85,00,000 warrants carrying entitlement / option to apply for equal number of equity shares on preferential basis to Mrs. Archana H Mittal, Promoter of the Company; in accordance with SEBI Guidelines for preferential issue.

An Extra-Ordinary General Meeting of the Members of the Company would be held on October 11, 2007, to seek approval of the members for the above matter.

The Stock closed the day at Rs.70.15, up by Rs.5.90 or 9.18%. The stock hit an intraday high of Rs.74.25 and low of Rs.55.10. The total traded quantity was 5344744 compared to 2 week average of 1261912.

Source : Equity Bulls

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