Fortis Healthcare Updates on warrants exercise price

Fortis Healthcare Ltd now announced with reference to fixing Record Date and the terms of Issue of the Proposed Right Issue of the Company, that in context with the clarification on the Warrants Exercise Price for Series A and Series B.

The Warrant Exercise Price for each series of the Detachable Warrants shall be determined in accordance with the following formula: Warrant Exercise Price = (A26 + A2i)/ 2

where A26 is the average, of the weekly closing prices of the Equity Shares on the NSE in the 26 weeks immediately preceding the date fixed for the determination of the Warrant Exercise Price of the relevant series of the Detachable Warrants (the "Relevant Date") and A2 is the average of the weekly closing prices of the Equity Shares on the NSE in the two weeks immediately preceding the Relevant Date.

If trading in the Equity Shares of the Company has been suspended for any period of time in the aforesaid 26 week period, the formula, for the Warrant Exercise Price specified above shall be subject to such adjustments as the Board of Directors may, in its sole and absolute discretion, deem equitable.

The stock was trading at Rs.103.60, up by Rs.2.30 or 2.27%. The stock hit an intraday high of Rs.104.80 and low of Rs.102.

The total traded quantity was 157709 compared to 2 week average of 338454.

Source : Equity Bulls

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