Ankur Drugs to convert 4 lakh warrants

Ankur Drugs and Pharma Ltd has announced that the Board of Directors of the Company at its meeting held on May 12, 2009, has resolved to allot 4,00,000 fully paid equity shares of Rs 10 each to Mr. Purnandu Jain pursuant to conversion of its 4,00,000 share warrants (each warrant convertible into 1 equity share of Rs 10/- each) held by Mr. Purnandu Jain at an agreed price of Rs 175/- per share warrant, as per the terms of issue of share warrants on a preferential basis.

To forfeit the amount received on remaining 17,24,400 share warrants on account of non-exercise of the right of conversion into equity shares, by the remaining share warrant holders and consequent non payment of the amount due on conversion by them as per the terms of issue of share warrants which were allotted on September 05, 2007.

The stock closed the day at Rs.78.25, down by Rs.0.40 or 0.51%. The stock hit an intraday high of Rs.81 and low of Rs.77.

The total traded quantity was 13758 compared to 2 week average of 16495.

Source : Equity Bulls

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