RS Software allots 220000 equity shares to the Promoter on preferential basis

RS Software India Ltd has announced that Mr. Rajnit Rai Jain, the Promoter and the Chairman & Managing Director of the Company has paid the balance 90% of the total consideration amount for 220000 equity warrants at a price of Rs 19.50 which includes a premium of Rs 9.50 per share, calculated in accordance with the SEBI Guidelines. Since the amount of Rs 38,61,000/- equivalent to 90% of total consideration of 220000 equity shares paid by Mr. Jain has been credited to the Company's account within the stipulated period as per the relevant Guidelines of SEBI, the Board of Directors of the Company, on March 31, 2009, have approved the allotment of 220000 equity shares as fully paid up on conversion of equity warrants on preferential basis in favour of Mr. Jain.

The stock closed the day at Rs.11.60, up by Rs.0.62 or 5.65%. The stock hit an intraday high of Rs.11.75 and low of Rs.11.15.

The total traded quantity was 54704 compared to 2 week average of 6068.

Source : Equity Bulls

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