Howard Hotels allots 1800000 warrants

Howard Hotels Ltd has announced that the Board of Directors of the Company at its meeting held on March 06, 2009, inter alia, has allotted 1800000 warrants @ Rs 12.25/- per warrant (including premium of Rs 2.25 per warrant), convertible into equal number of equity shares within a period of 18 months from the date of allotment, in respect of which minimum amount of 25% of the total consideration has been received, be and are hereby allotted on Preferential basis to the promoters and / or their associates.

The stock closed the day at Rs.9, down by Rs.0.17 or 1.85%. The stock hit an intraday high of Rs.9.61 and low of Rs.9.

The total traded quantity was 650 compared to 2 week average of 783.

Source : Equity Bulls

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