Ontrack Systems to consider allotment of shares on Apr 17, 2009

Ontrack Systems Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 17, 2009, inter alia, to consider the allotment of securities.

The Board will consider allotment of 11,91,705 equity shares to M/s. Kant & Co. Ltd, on preferential basis subject to regulatory and members approval.

To consider conversion of Unsecured Loan received from Mr. B Hari into equity shares.

To consider and review the allotment of 2,70,000 equity shares to IQ Technologies LLC, USA along with it's subsidiary FAST Pvt. Ltd on preferential basis.

The stock was trading at Rs.5.38, up by Rs.0.25 or 4.87%. The stock hit an intraday high of Rs.5.38 and low of Rs.5.38.

The total traded quantity was 175 compared to 2 week average of 1880.

Source : Equity Bulls

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