Pioneer Distilleries approves issue of 16 lakh warrants

Pioneer Distilleries Ltd has announced that the Board of Directors of the Company at its meeting held on June 05, 2009, inter alia, has approved the issue of 16,00,000 Warrants convertible into Equity Shares of the Company on Preferential Basis pursuant to Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000, subject to the members approval through Postal Ballot. The relevant date for the pricing of the aforesaid Issue is June 15, 2009.

The stock closed the day at Rs.37.40, down by Rs.2 or 5.08%. The stock hit an intraday high of Rs.43 and low of Rs.36.

The total traded quantity was 20260 compared to 2 week average of 13409.

Source : Equity Bulls

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