Span Diagnostics allots 157500 Convertible Share Warrants

Span Diagnostics Ltd has announced that the Board of Directors of the Company at its meeting held on March 07, 2009, inter alia, has made allotment of 1,57,500 Convertible Share Warrants to be converted into shares of Rs 10/- each at the premium of Rs 40.60 per share (determined as per Guidelines for Preferential Issues under SEBI (Disclosure & Investors Protection Guidelines, 2000) to promoters on preferential basis. This is in pursuant to approval of the Shareholders' in Extra Ordinary General Meeting held on February 28, 2009 and in-principle approval dated February 13, 2009 of Stock Exchange for issue of afore Convertible Share Warrants.

The aforesaid allotment of convertible share warrants is made in terms of the above offers and subject to the provisions of SEBI Disclosure & Investors Protection Guidelines, 2000 issued by Securities and Exchange Board of India (SEBI), Listing agreement signed with the Stock Exchange, Guidelines issued by Reserve Bank of India, Government of India and other applicable laws.

The stock closed on Friday at Rs.35.10, down by Rs.1.15 or 3.17%. The stock hit an intraday high of Rs.37.60 and low of Rs.35.10.

The total traded quantity was 51 compared to 2 week average of 5487.

Source : Equity Bulls

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