Core Projects to issue warrants and equity shares

Core Projects & Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on November 24, 2007, inter alia, has approved the allotment of 1,00,00,000 Warrants to Wisdom Global Enterprises Ltd (formerly Wisdom Trading Ltd) entitling to apply for 1,00,00,000 equity shares of Rs 2 each on exercise of the warrants over a period of 18 months pursuant to the sanction accorded by the shareholder at their Extra-ordinary General Meting held on October 29, 2007.

The Board approved the allotment of 4,92,638 Equity Shares of Rs 2 each on conversion of FCCBs pursuant to this allotment the paid-up capital of the Company stands increased to Rs 144,157,376 constituting 7,20,78,688 Equity shares of Rs 2/- each.

The stock was trading at Rs.273.50, up by Rs.8.60 or 3.25%. The stock hit an intraday high of Rs.284.90 and low of Rs.265.15.

The total traded quantity was 440978 compared to 2 week average of 386213.

Source : Equity Bulls

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