Oudh Sugar fixes Record Date for conversion of detachable warrants into Equity Shares

Oudh Sugar Mills Ltd has announced that the Board of Directors at their meeting held on September 01, 2009 has decided to convert 39,98,240 detachable warrants (in to Equity Shares) issued on Rights basis at a conversion price of Rs. 42.63 per warrant. Further September 22, 2009 has been fixed as the Record date for reckoning the eligibility of warrant holders for conversion of Warrants into Equity Shares. The Warrant Conversion period shall begin on and from September 24, 2009 and shall last up to October 22, 2009. The Warrant Exercise Application Form shall be dispatched to the warrant holders at the close of business hours of September 22, 2009 to those warrant holders whose names appear on the Register of Warrant holders of the Company on that date.

Further the Company has informed that, 3998240 Detachable Warrants issued on Rights Basis shall be converted into 3998240 Equity Shares of Rs. 10 each.

The stock closed the day at Rs.81.10, up by Rs.3.60 or 4.65%. The stock hit an intraday high of Rs.81.35 and low of Rs.77.05.

The total traded quantity was 146030 compared to 2 week average of 49648.

Source : Equity Bulls

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