United Breweries Holdings cancels 4415899 warrants

United Breweries Holdings Ltd has announced that the Board of Directors of the Company at its meeting held on July 28, 2009, has has cancelled 44,15,899 Convertible Warrants issued on December 13, 2007 to a Promoter Group Company, on preferential basis, for not exercising the option to convert Warrants into Equity Shares within the prescribed time and 10% of the price fixed in terms of Clause 13.1.1.1 of SEBI [Disclosure & Investor Protection] Guidelines, 2000 amounting to Rs 49,01,64,789.00 paid by the Promoter Group Company, towards allotment of aforesaid Warrants have been forfeited by the Board of Directors in terms of Clause 13.1.2.3 (c) of the SEBI [Disclosure & Investor Protection] Guidelines, 2000.

The stock was trading at Rs.231.40, down by Rs.4.85 or 2.05%. The stock hit an intraday high of Rs.236 and low of Rs.228.55.

The total traded quantity was 3182 compared to 2 week average of 25187.

Source : Equity Bulls

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