Gallantt Metal Board Meeting on Nov 24, 2008 to allot 5000000 shares to Elara India Opportunities Fund

Gallantt Metal Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 24, 2008, inter alia, to consider and approve the allotment of 50,00,000 Equity Shares of Rs 10/-each at a premium of Rs 21/- per share to Elara India Opportunities Fund Ltd of Suite 2005, Level 2, Alexander house, 35, Cybercity Ebene, Republic of Mauritius, pursuant to approval of the shareholders obtained under Section 81 (1A) of the Companies Act, 1956 and in-principle approval of the Stock Exchanges.

The stock was trading at Rs.10.59, up by Rs.0.28 or 2.72%. The stock hit an intraday high of Rs.10.85 and low of Rs.10.50.

The total traded quantity was 1182 compared to 2 week average of 6304.

Source : Equity Bulls

Keywords