Span Diagnostics to consider allotment of 157500 shares on Mar 25, 2009

Span Diagnostics Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 25, 2009, to consider the allotment of 1,57,500 Equity Shares of Rs 10/- each at a premium of Rs 40.60 per share, fully paid up, by converting Convertible Share Warrants already issued to promoters on preferential basis.

Further the Company has informed that, the shareholders have, in the Extra-ordinary General Meeting held on February 28, 2009 approved the issue of aforesaid convertible share warrants and the said warrants were issued pursuant to in principle approval from Stock Exchange as per SEBI(DIP) guidelines.

The stock last traded at Rs.35.05, up by Rs.1.65 or 4.94%. The stock hit an intraday high of Rs.35.05 and low of Rs.31.90.

The total traded quantity was 71 compared to 2 week average of 5940.

Source : Equity Bulls

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