Farmax Retail to consider allotment of warrants on Jul 16, 2009

Farmax Retail (India) Ltd has announced that pursuant to the Special Resolution passed through postal ballot conducted on June 22, 2009 with regard to issue of 16,00,000 (Sixteen Lakhs) Equity Warrants with each Warrant Convertible into One Equity Share of nominal value of Rs 10/- (Rupees Ten Only) at a price of Rs 25/- (Rupees Twenty Five Only) which includes a premium of Rs 15/- (Rupees Fifteen Only) each to the persons under non-promoter category.

In this regard, a meeting of the Board of Directors of the Company will be held on July 16, 2009 for the allotment of above said warrants.

The stock was trading at Rs.157, up by Rs.2.30 or 1.49%. The stock hit an intraday high of Rs.159 and low of Rs.150.05.

The total traded quantity was 155 compared to 2 week average of 65088.

Source : Equity Bulls

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