Lincoln Pharmaceuticals forfeits 20 lakh warrants

Lincoln Pharmaceuticals Ltd has announced that the Company has allotted 2000000 warrants to M/s. Pooja Finstock International Ltd. on July 21, 2008. Now M/s. Pooja Finstock International Ltd. has intimated that they do not intend to exercise the right attached to the warrants for applying the allotments of equal numbers of shares by paying balance money.

In view of the same the Company has forfeited the amount of Rs. 2000000/- paid by the said Company towards issue of warrants.

The stock closed the day at Rs.29.45, down by Rs.0.25 or 0.84%. The stock hit an intraday high of Rs.31.25 and low of Rs.28.50.

The total traded quantity was 61984 compared to 2 week average of 46459.

Source : Equity Bulls

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