Shiva Cement allots 1.2 Million shares to Roughells Fashions

Shiva Cement Ltd has announced that the Board of Directors of the Company at its meeting held on December 15, 2008, has approved the allotment of 1.2 Mn. Nos. shares to Roughells Fashions Pvt Ltd at a price of Rs 11/- per share (including a premium of Rs 9/- per share) upon conversion of warrants.

The Board also approved 'Time extension' for conversion of pending warrants of 17.7 Mn. Nos held by ACC Ltd and 1.8 Mn. Nos held by Roughells Fashions Pvt Ltd. Time extension is subject to statutory approvals.

The stock was trading at Rs.5.27, up by Rs.0.25 or 4.98%. The stock hit an intraday high of Rs.5.27 and low of Rs.5.27.

The total traded quantity was 93453 compared to 2 week average of 151919.

Source : Equity Bulls

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