Uniflex Cables to allot 52 Lakh warrants

Uniflex Cables Ltd has announced that the Board of Directors of the Company at its meeting held on March 27, 2008, has decided to issue & allot 52 Lacs Warrants having a face value of Rs 42.50 each on Preferential Allotment basis to 3 entities as per Resolution passed by the Shareholders in the EGM held on March 07, 2008 and also decided to convert 14 Lacs Equity Warrants out of above allotment into equal no. of equity shares of Rs 10/- paid up including premium of Rs 32.50 per share to M/s. Apar Industries Ltd immediately.

With the issue & allotment of 14 Lacs fresh equity shares to M/s. Apar Industries Ltd, the paid up & issued capital of the Company will increase to Rs 2178.04 Lacs from existing Rs 2038.04 lacs.

The stock closed the day at Rs.39.80, down by Rs.0.95 or 2.33%. The stock hit an intraday high of Rs.42.50 and low of Rs.39.

The total traded quantity was 37206 compared to 2 week average of 61984.

Source : Equity Bulls

Keywords