Vivimed Labs Ltd approves allotment of 967500 Shares

The Nomination and Remuneration Committee of the Board of Directors of Vivimed Labs Ltd through a resolution passed at its meeting held on 17th April, 2017, has allotted 9,67,500 equity shares of Rs.2/- each fully paid up to the allottees upon exercise of stock options pursuant to Vivimed Labs ESOS 2010 With the allotment of the above shares, the equity base of the Company stands increased from present level of 8,10,18,915 (Nos.) to 8,19,86,415 (Nos.) equity shares of Rs.2/- each.

The Nomination and Remuneration Committee at its Meeting held on 17th April, 2017 took note of cancellation of 3,50,000 Stock Options granted under Vivimed Labs ESOS 2010 and the said stock options re-issued to eligible employees under the Vivimed Labs ESOS 2010. The vesting period of these options is in a phased manner over a period of 4 years.

Shares of VIVIMED LABS LTD. was last trading in BSE at Rs.122.85 as compared to the previous close of Rs. 116.7. The total number of shares traded during the day was 944935 in over 8720 trades.

The stock hit an intraday high of Rs. 124.4 and intraday low of 113.6. The net turnover during the day was Rs. 113356792.

Source : Equity Bulls

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