TCPL Packaging to allot 350000 warrants

TCPL Packaging Ltd has announced that the Board of Directors of the Company at its meeting held on June 02, 2009, inter alia, has decided that Company would issue subject to various approvals including the approval from Shareholders, 350000 warrants @ Rs 30/- per warrant on preferential basis to the Promoters / Promoters Group Company giving warrant holders the option to convert 350000 Equity Shares of Rs 10/- each.

The necessary approvals from the shareholders will be obtained at the ensuing Twenty First Annual General Meeting of the shareholders of the Company to be held on July 02, 2009.

The stock was closed the day at Rs.31.10, up by Rs.1.45 or 4.89%. The stock hit an intraday high of Rs.31.10 and low of Rs.31.10.

The total traded quantity was 300 compared to 2 week average of 1187.

Source : Equity Bulls

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