HEG allots 4730000 Convertible Warrants on Preferential basis

HEG Ltd has announced that that the Allotment Committee of Directors of the Company allotted 47,30,000 Warrants at a price of Rs 365/- each with an option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors and Employees of the Company, Group Companies and Associate Companies.

The aforesaid preferential issue had been approved by shareholders at their meeting held on March 03, 2008.

The stock was trading at Rs.284.50, down by Rs.15.30 or 5.10%. The stock hit an intraday high of Rs.293 and low of Rs.283.25.

The total traded quantity was 4227 compared to 2 week average of 19075.

Source : Equity Bulls

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