UT allots 390000 Equity Shares by converting Share Warrants

UT Ltd has announced that the Share Allotment Committee of the Board of Directors at its meeting held on May 29, 2009, has approved the allotment of 3,90,000 Equity Shares at a price of Rs 12.38 (including a premium of Rs 2.38 per share) each to Mrs. Vandana Khaitan, Promoter by converting 3,90,000 Share Warrants at a ratio of one equity share for each share warrant.

The stock was trading at Rs.12.70, up by Rs.0.60 or 4.96%. The stock hit an intraday high of Rs.12.70 and low of Rs.12.70.

The total traded quantity was 900 compared to 2 week average of 545.

Source : Equity Bulls

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