Mohit Paper Mills to allot 20 lakh warrants

Mohit Paper Mills Ltd has announced that the Board of Directors of the Company at its meeting held on April 30, 2009, inter alia, has approved the proposal of issue of preferential allotment of 20,00,000 (Twenty Lakh) Warrants to the promoters to be converted into the equity shares of the Company for expansion of existing plant at Bijnor. The price and terms and conditions of warrants shall be inline with the applicable laws and as decided by the Board.

The Board of Directors approved the appointment of M/s. H Tara & Co. as the Cost Auditor for the terms of 2009-2010.

The Stock closed on April 29, 2009 day at Rs.4.52, up by Rs.0.21 or 4.87%. The stock hit an intraday high of Rs.4.52 and low of Rs.4.52.

The total traded quantity was 84 compared to 2 week average of 347.

Source : Equity Bulls

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