Midas Pharmasec allots 8320000 warrants

Midas Pharmasec Ltd has announced that a meeting of the Board of Directors of the Company was held on January 05, 2009 to issue convertible warrants on preferential basis in line with the Resolution under section 81(1A) of the Companies Act, 1956, passed by the shareholders of the company in the EGM held on January 01, 2009.

Accordingly the Board has issued and allotted 83,20,000 warrants on private placement basis. Each warrant being entitled to apply and allot one equity share of the Company of Rs 10/- each, at par value calculated under the guidelines framed by SEBI.

The stock closed the day at Rs.10.25, up by Rs.0.17 or 1.69%. The stock hit an intraday high of Rs.10.50 and low of Rs.10.

The total traded quantity was 453 compared to 2 week average of 459.

Source : Equity Bulls

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