Mascon Global approves allotment of 2982456 shares at Rs 19

Mascon Global Ltd has announced that the Preferential Issue Committee of Board of Directors in their meeting held on January 04, 2009, has considered and approved the allotment of 29,82,456 no. of equity shares at a price of Rs 19 per share (including premium of Rs 9/- per share) to Mr. K Chandra, Executive Chairman & CEO on conversion of the warrants allotted to him into equity. The Company has received the balance 90% of the funds in its account.

The above shares/warrants would be subject to necessary Lock-in provisions, as per the SEBI Guidelines.

The stock was trading at Rs.4.97, up by Rs.0.10 or 2.05%. The stock hit an intraday high of Rs.4.99 and low of Rs.4.95.

The total traded quantity was 20589 compared to 2 week average of 563069.

Source : Equity Bulls

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