Nissan Copper investors to return share warrants

Nissan Copper Ltd has announced that the Board of Directors of the Company at its meeting held on February 26, 2009, inter alia, have considered and approved the request received from the independent investors and Promoters for the surrender of equity share warrants allotted to them on preferential basis on August 14, 2008 as per the members' resolution passed on July 19, 2008.

Accordingly it was decided to cancel the entire surrendered 70,00,000 equity share warrants. It was also decided to forfeit the amount of Rs 3,22,00,000/- (Three Crore Twenty Two Lakhs Only) received from the allottees at the time of allotment.

The stock was trading at Rs.12.50, down by Rs.0.30 or 2.34%. The stock hit an intraday high of Rs.13 and low of Rs.12.17.

The total traded quantity was 3585 compared to 2 week average of 2050.

Source : Equity Bulls

Keywords