Heritage Foods warrants lapse

Heritage Foods India Ltd has announced that the Board of Directors of the Company at its meeting held on December 11, 2007 allotted 8,00,000 warrants of the Company on preferential allotment basis to the promoter which was approved by the members at their Extra-Ordinary General Meeting held November 28, 2007 for allotment which are to be converted into equity shares with in a maximum period of 18 months from the date of allotment (i.e. December 11, 2007). The Board of Directors at their meeting held on March 29, 2008 allotted on conversion of 5,39,500 equity shares at the option of the holder.

The said allottee has now informed that he / she is not exercising rights as warrant holder for the conversion of 2,60,500 (i.e. balance of non-converted) Warrants which were due for conversion on or before June 10, 2009.

The stock closed the day at Rs.93.30, up by Rs.4.40 or 4.95%. The stock hit an intraday high of Rs.93.30 and low of Rs.84.50.

The total traded quantity was 20192 compared to 2 week average of 38723.

Source : Equity Bulls

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