Shree Ashtavinayak allots 178940 shares on conversion of FCCBs

Shree Ashtavinayak Cine Vision Ltd has announced that the Board of Directors of the Company at its meeting held on October 17, 2008, has resolved and allotted 178940 Equity Shares (towards 2 conversion notices for US$1,000,000 each) of Rs 10 each fully paid up, at the issue price of Rs 439.755 per equity shares on Conversion of FCCBs into equity shares, in accordance with the terms and conditions of the Bonds set out in the Trust Deed (Offering Circular) dtd. December 21, 2007 to "TRIPLE M INVESTMENT LTD", MAURITIUS and a resolution passed in the Extra Ordinary General Meeting held on August 20, 2007.

The Stock closed the day at Rs.488.30, down by Rs.7.20 or 1.45%. The stock hit an intraday high of Rs.507 and low of Rs.486.

The total traded quantity was 76853 compared to 2 week average of 58996.

Source : Equity Bulls

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