Faze Three Ltd approves allotment of 3011203 Equity Shares upon conversion of Warrants into equivalent number of Equity Shares

The Board of Directors of the Company had, pursuant to the approval of shareholders in the EGM held on September 30, 2016 and other regulatory approvals and requirements allotted 30,11,203 warrants convertible into equivalent number of Equity Shares on preferential basis to Promoter and Promoter Group on October 15, 2016.

Further, the warrant holders have paid the balance 75% of the consideration aggregating to Rs. 4,51,68,045/- and have applied for exercising their right for conversion of 30,11,203 warrants into equivalent number of equity shares.

Consequently, the Board of Directors in its meeting held on February 15, 2017 has issued and allotted 30,11,203 Equity Shares of face value of Rs. 10/- each to the warrant holders.

Shares of FAZE THREE LTD. was last trading in BSE at Rs.104.75 as compared to the previous close of Rs. 108.25. The total number of shares traded during the day was 17424 in over 219 trades.

The stock hit an intraday high of Rs. 110 and intraday low of 102. The net turnover during the day was Rs. 1822030.

Source : Equity Bulls

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