Man Industries to allot 25 lakh warrants at Rs 35

Man Industries India Ltd has announced that the Board of Directors of the Company at its meeting held on May 26, 2009, has decided to offer, issue and allot 25,00,000 convertible Warrants to the persons belonging to the promoter's category on Preferential basis subject to approval of shareholders in Extra-ordinary General Meeting at the price of Rs 35/- each calculated as per extent SEBI (DIP) Guidelines.

To hold Extra- Ordinary Annual General Meeting of the Company on June 19, 2009 for the purpose of approving preferential issue of warrants to the promoters of the Company.

The stock closed the day at Rs.46.35, down by Rs.4.45 or 8.76%. The stock hit an intraday high of Rs.53.50 and low of Rs.45.75.

The total traded quantity was 346770 compared to 2 week average of 306691.

Source : Equity Bulls

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