Tilaknagar Industries to allot 41.7 lakh warrants

Tilaknagar Industries Ltd has announced that the Board of Directors of the Company at its meeting held on July 02, 2009, inter alia, has decided and approved the allotment of 41,70,000 (Forty One Lacs Seventy Thousand Only) Convertible Warrants ("Warrants") to Mrs. Shivani Amit Dahanukar, the Promoter of the Company ("Warrant holder") on preferential allotment basis, convertible at the option of the Warrant holder into equivalent number of Equity Shares of Rs. 10/- (Rupees Ten) each at an Exercise Price of Rs. 92/- per share (including premium of Rs. 82/-) within 18 months from the date of allotment and approval of Members of the Company at the Extra-Ordinary General Meeting held on June 18, 2009.

The Annual General Meeting is scheduled to be held on August 01, 2009 at the Registered office of the Company i.e. at P. 0. Tilaknagar, Tal. Shrirampur, Dist. Ahmednagar, Maharasthra- 413 720.

Mr. C V Bijlani has been appointed as an Additional Director of the Company.

The stock closed the day at Rs.147, up by Rs.3.55 or 2.47%. The stock hit an intraday high of Rs.159 and low of Rs.143.

The total traded quantity was 3905 compared to 2 week average of 3511.

Source : Equity Bulls

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