Mascon Global Promoter to acquire 5% stake from ICICI Bank

Mascon Global Ltd has clarified with reference to the news item appearing in a leading daily titled "Mascon promoter in talks to buy ICICI's 5% stake", that upon receipt of Letter of Offer on December 31, 2007 from ICICI Bank Ltd, Mr. K Chandra, the Company's Executive Chairman & CEO has informed the Company that he has signed the Letter of offer dt: December 31, 2007 from ICICI Bank Ltd for purchase of the equity shares constituting around 5.01% of the total paid-up capital of the Company.

The Company is taking steps to file the necessary disclosures as per the applicable regulations to the Stock Exchanges concerned.

The stock closed the day at Rs.25.45, up by Rs.1.20 or 4.95%. The stock hit an intraday high of Rs.25.45 and low of Rs.25.

The total traded quantity was 323526 compared to 2 week average of 649267.

Source : Equity Bulls

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