Rajshree Sugars Promoters fail to pay 10% money for warrants

Rajshree Sugars & Chemicals Ltd has announced that as per the guidelines / rules applicable to preferential allotment of the equity shares / warrants issued by Securities & Exchange Board of India (SEBI), or any other authorities, a sum of 10% of the exercise price shall be payable by the promoters within 15 days from the date of resolution passed at the Annual General Meeting held on September 29, 2008.

The promoters have not remitted 10% of the exercise price of Rs 10/- per share at a premium of Rs 60/- per share as on October 14, 2008 (the final date) and therefore the said resolution passed at the AGM has become null and void and cannot be acted upon.

The stock was trading at Rs.49.80, down by Rs.3.25 or 6.13%. The stock hit an intraday high of Rs.51.10 and low of Rs.49.75.

The total traded quantity was 2015 compared to 2 week average of 11553.

Source : Equity Bulls

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