Scanpoint Geomatics Ltd announces rights issue at Rs. 16.50

The Board of Directors of Scanpoint Geomatics Ltd in their meeting held today i.e. January 8, 2018 have considered the matter and have determined the Issue Price per Rights Equity Share, Rights entitlement ratio, fractional entitlement and have fixed the 'Record Date' for determining eligibility of the shareholders who will be entitled to get equity shares on rights basis and other terms and conditions pertaining to the Rights Issue including matters related / incidental thereto.

The rights entitlement ratio is fixed as 148 rights equity shares of Rs. 2 each for every 219 equity shares of Rs. 2 each held by the shareholders of the company as on the record date.

The issue price is fixed as Rs. 16.50 per rights equity shares (including a premium of Rs. 14.50 per equity share of the face value of Rs. 2 each).

The company will issue 1,81,81,699 equity shares of Rs. 2 each through this issue and raise Rs. 2999.98 lakhs.

The Company has fixed the record date of January 19, 2017.

Shares of SCANPOINT GEOMATICS LTD. was last trading in BSE at Rs.40.7 as compared to the previous close of Rs. 38.8. The total number of shares traded during the day was 155035 in over 370 trades.

The stock hit an intraday high of Rs. 40.7 and intraday low of 39.25. The net turnover during the day was Rs. 6272012.

Source : Equity Bulls

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