Confidence Petroleum India Ltd approves ESOS, warrants issue

The Board of Directors of Confidence Petroleum India Ltd at its meeting held on August 20, 2016, has recommended, subject to such other approvals as maybe required and in accordance with all applicable laws, rules and regulations, to create, issue and allot 3,00,00,000 (Three Crore) warrants.

The Board recommended, subject to such other approvals as maybe required and in accordance with all applicable laws, rules and regulations, to create, issue and allot 20,00,000 (Twenty Lacs) Shares under Employee Stock Option Scheme.

The Statutory Auditors of the Company M/s. Bhandari & Associates, Chartered Accountants have intimated their unwillingness to be Statutory Auditors of the Company due to health issues. The Board of Directors have received consent and eligibility from the M/s. Akhil Rathi & Co. Chartered Accountants, Nagpur & M/s Ganesh Adukia & Associates, Chartered Accountants, Mumbai for appointment as Joint statutory auditors of the Company Subject to the approval of Shareholder.

Shares of CONFIDENCE PETROLEUM INDIA LTD. was last trading in BSE at Rs.7.2 as compared to the previous close of Rs. 6.94. The total number of shares traded during the day was 1473371 in over 479 trades.

The stock hit an intraday high of Rs. 7.2 and intraday low of 6.6. The net turnover during the day was Rs. 10385966.

Source : Equity Bulls

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