Choice International Limited allots 34,49,989 Equity Shares on Conversion of Warrants

The Warrant Holders, of Preferential Issue made pursuant to the Special Resolution Passed at the Extra Ordinary General Meeting held on December 23, 2019 & in principal approval granted by "BSE Limited" on December 24, 2019, have applied for conversion of 34,49,989 Warrants issued on Preferential basis in to Equity Shares pursuant to allotment made by the "Securities Allotment Committee" on January 02, 2020.

Consequently, the "Securities Allotment Committee" of Choice International Limited on receipt of the entire consideration amount from the applicant warrant holders has approved the allotment of Conversion of 34,49,989 Warrants in to Equivalent Number of Equity Shares at a price of Rs. 51/- each ( Including Premium) to the applicant warrant holders on this 17th day of April 2021. Accordingly, there is an increase in Paid up Share capital of the Company equivalent to the Shares allotted.

On conversion 34,49,989 warrants in to equivalent number of Equity Shares, there are remaining 77,86,538 out of the total 1,98,00,000 warrants issued by the Company on January 02,2020 to be converted in to equivalent number of Equity Shares as an when the Company is in receipt of the consideration amount within the time frame as described in the SEBI ( ICDR) Regulations.

Shares of CHOICE INTERNATIONAL LTD. was last trading in BSE at Rs.119.4 as compared to the previous close of Rs. 118.85. The total number of shares traded during the day was 5700 in over 25 trades.

The stock hit an intraday high of Rs. 120.9 and intraday low of 117.25. The net turnover during the day was Rs. 672329.

Source : Equity Bulls

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