TeleCanor Global EGM approves issue of 12 lakh warrants, 7.84 lakh shares

TeleCanor Global Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on June 22, 2009, inter alia, have passed and approved the resolution to offer, issue and allot up to 12,00,000 Equity Share Warrants of face value of Rs 10/- each for cash at a price of Rs 15.60/- per Equity Share Warrant, to Mr. Hemat Kumar Gupta a non-promoter independent subscriber on a preferential basis, on such terms and conditions and in such manner as the Board may think fit with the compliance of Chapter XIII of the DIP Guidelines.

The EGM also approved to offer, issue and allot up to 7,84,000 Equity Shares of face value of Rs 10/- each for cash at a price of Rs 15.60/- per Equity Share Warrant, to Mr. Hemant Kumar Gupta and Other non-promoter independent subscribers on a preferential basis, on such terms and conditions and in such manner as the Board may think fit with the compliance of Chapter XIII of the DIP Guidelines.

The stock closed the day at Rs.19.95, up by Rs.0.95 or 5%. The stock hit an intraday high of Rs.19.95 and low of Rs.18.50.

The total traded quantity was 8243 compared to 2 week average of 7303.

Source : Equity Bulls

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