MVL to allot 500000 FCDs to HT Media Ltd

MVL Ltd has announced that the Board of Directors of the Company at its meeting held on January 14, 2009, has decided to allot 500,000 Fully Convertible Debenture of Rs 100 each to M/s. HT Media Ltd on preferential basis.

The above mentioned debentures shall be converted into equity shares on June 30, 2009 on such price as may be determined as per SEBI (Disclosure and Investor Protection) Guidelines.

The Relevant date for this purpose shall be the 30 days prior to the date of conversion.

The stock was trading at Rs.38.35, up by Rs.1.70 or 4.64%. The stock hit an intraday high of Rs.38.5 and low of Rs.37.

The total traded quantity was 348 compared to 2 week average of 529.

Source : Equity Bulls

Keywords