Heritage Foods 8 lakh warrants lapse

Heritage Foods India Ltd has announced that the Board of Directors of the Company at its meeting held on February 08, 2008 allotted 8,00,000 warrants of the Company on preferential allotment basis to the promoter which was approved by the members at their Extra-Ordinary General Meeting held January 29, 2008 for allotment which are to be converted into equity shares with in a maximum period of 18 months from the date of allotment (i.e. February 08, 2008).

The said allottee has now informed that he/she is not exercising rights as warrant holder for the conversion of 8,00,000 Warrants which were due for conversion on or before August 07, 2009.

The stock was trading at Rs.100, up by Rs.6.25 or 6.67%. The stock hit an intraday high of Rs.101.80 and low of Rs.95.

The total traded quantity was 11306 compared to 2 week average of 10633.

Source : Equity Bulls

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