Bafna Pharmaceuticals Ltd calls for Board Meeting on Jan 04, 2017

A meeting of the Board of Directors of Bafna Pharmaceuticals Ltd is scheduled to be held on January 04, 2017, to consider the withdrawal of entire preferential issue of 40,00,000 share warrants and in-principle application filed with the Stock Exchanges due to the proposed allottees in the promoter group and one of the investors were ineligible due to sale / purchase / transfer within the group during the 6 months preceding the relevant date.

Due to inordinate delay in the process, few of the proposed allottees expressed their unwillingness to subscribe for the issue.

The Board will consider and propose fresh issue of 80,00,000 share warrants to promoter and non-promoter group subject to necessary approvals.

Further, as per the Company's Code of Conduct for Prohibition of Insider Trading, the trading window for dealing in the securities of the Company will be closed for all directors / officers / designated employees of the Company from December 30, 2016 to January 06, 2017 (both days inclusive).

Shares of BAFNA PHARMACEUTICALS LTD. was last trading in BSE at Rs.28.75 as compared to the previous close of Rs. 28.3. The total number of shares traded during the day was 7650 in over 38 trades.

The stock hit an intraday high of Rs. 29.2 and intraday low of 28.5. The net turnover during the day was Rs. 220835.

Source : Equity Bulls

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