Champagne Vineyards allots 32961600 Equity Shares

Champagne Vineyards Ltd has announced that pursuant to the Scheme of Arrangement as approved by the High Court of Judicature at Bombay vide its Order dated March 14, 2008, the Executive Committee of Board of Directors of the Company at its meeting held on April 23, 2008 has issued and allotted to the Shareholders of Indage Hotels Ltd (IHL), 3,29,61,600 Equity Shares of Rs 3/- each in the ratio of (8) Eight Equity Shares of Rs 3/- each of the Company for every (1) One Equity Share of Rs 10/- each held in IHL.

The said equity shares has been allotted to those shareholders of IHL whose names appeared as members in the Register of Members of Indage Hotels Ltd on April 18, 2008 being the record date fixed by IHL for the purpose of ascertaining the shareholders entitled for the equity shares of the Company.

The stock closed the day at Rs.48.05, down by Rs.1.85 or 3.71%. The stock hit an intraday high of Rs.50 and low of Rs.48.05.

The total traded quantity was 550 compared to 2 week average of 1242.

Source : Equity Bulls

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