LKP Finance warrants lapse

LKP Finance Ltd has announced with reference to the earlier annoucement dated February 26, 2008, regarding allotment of 10,00,000 warrants on preferential basis to some members of the promoter group, that the registered owners of the said warrants have not exercised their right to apply for and seek allotment of equity shares within the stipulated period of 18 months from the date of issue of the said warrants. Accordingly the right of the warrant holders has expired. The said 10 lac warrants now stand cancelled. At the next meeting of the Board of Directors of the Company, the Board may consider to forfeit the upfront payment of 10% of the issue price received upon allotment of the said warrants.

The stock closed the day at Rs.108.85, up by Rs.9.80 or 9.89%. The stock hit an intraday high of Rs.114 and low of Rs.99.25.

The total traded quantity was 24657 compared to 2 week average of 8998.

Source : Equity Bulls

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