Span Diagnostics to allot 157500 warrants

Span Diagnostics Ltd has announced that the Board of Directors of the Company at its meeting held on January 17, 2009, has decided to issue fresh 157500 Convertible Share Warrants of Rs 10/- each at a price of shares which will be calculated in accordance with SEBI preferential Offer Guidelines on preferential basis to promoters of the Company subject to necessary approvals. The Extra Ordinary General Meeting of shareholders is convened on February 28, 2009 for necessary consents for aforesaid issue and other matters.

Further the Company has informed that, Promoters of Company had decided that not to exercise the right of conversion of warrants 157500 allotted in August-2008 to them pursuant to previous in- principle approval of Stock Exchange and shareholders' approval. Company has therefore already forfeited the 10% of the price paid by the promoters in respect of aforesaid issue of warrants.

Source : Equity Bulls

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