Commitment Capital warrants lapse

Commitment Capital Services Ltd has announced that the Board of Directors of the Company at its meeting held on July 11, 2009, inter alia, has issued and allotted 1,05,00,000 convertible warrants to various promoters & strategic investors on preferential basis, entitling the warrants holders to apply for an equivalent number of fully paid-up equity share of Rs 10 each of the Company at any time during 18 months from the date of issue.

Further the Company has informed that, two of the proposed allottees namely Ms. Krishna Goyal and Ms. Manisha Garg did not pay the 25% upfront amount required for allotment of convertible warrants and desired not to subscribe the convertible warrants of the Company; accordingly, no allotment of convertible warrants was made to Ms. Krishna Goyal and Ms. Manisha Garg and 5,00,000 convertible warrants is lapsed accordingly.

The stock was trading at Rs.11.95, up by Rs.0.53 or 4.64%. The stock hit an intraday high of Rs.11.95 and low of Rs.11.95.

The total traded quantity was 1 compared to 2 week average of 2054.

Source : Equity Bulls

Keywords