Centurion Bank of Punjab Allots 508000 Equity Shares on conversion of Warrants

Centurion Bank of Punjab Ltd has announced that the Securities Transfer, Allotment and Grievance Redressal Committee of the Board at their meeting held on October 09, 2007, has allotted 5,08,000 equity shares on conversion of warrants.

The said warrants were issued in terms of the Scheme of Arrangement amongst Bank Muscat S.A.O.G., the Bank of Punjab Ltd (formerly known as Centurion Bank Ltd) and the shareholders of Centurion Bank of Punjab Ltd pursuant to Sections 391 to 394 of the Companies Act, 1956, which was duly approved by the Shareholders, the High Courts of Mumbai (Goa Bench) and Karnataka as well as by the Reserve Bank of India.

The stock closed the day at Rs.44.95, down by Rs.0.05 or 0.11%. The stock hit an intraday high of Rs.46.90 and low of Rs.43.75.

The total traded quantity was 1046819 compared to 2 week average of 5753522.

Source : Equity Bulls

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