Marg to issue 6791619 warrants

Marg Ltd has announced that the Board of Directors of the Company at its meeting held on May 23, 2009, has decided to part finance the capital for the second phase of Marg Karaikal Port through offer of 67,91,619 Warrants to Promoter, Promoters Group, Employees and Associates by way of Preferential Allotment under Chapter XIII of the SEBI (Disclosure & Investor Protection) Guidelines, 2000 subject to approval of shareholders and regulatory authorities.

The Board fixed June 18, 2009 for Extra-ordinary General Meeting to obtain approval of Shareholders for the above.

The stock was trading at Rs.89.85, up by Rs.4.25 or 4.96%. The stock hit an intraday high of Rs.89.85 and low of Rs.89.70.

The total traded quantity was 11270 compared to 2 week average of 136605.

Source : Equity Bulls

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