Dollex Industries allots 23130000 warrants

Dollex Industries Ltd has announced that the Board of Directors of the Company at its meeting held on September 12, 2009, has considered and allotted 2,31,30,000 convertible warrants be converted into equity shares of Rs. 5/- each at a price of Rs. 7.50/- including premium of Rs. 2.50/- per share at cash to the allottees.

The Board gave authority to Mr. Mehmood Khan, Director of the Company to execute, deal, sign and to do all such other acts, deeds and things as may be necessary to give effect to the issue of shares though QIP subject to the SEBI Guidelines.

The Board approved appointment of Mr. Nadeem Khan as an additional Director of the Company, appointment of Mr. Sanjay Tiwari, Mr. Deshnju Radhakrishnan and Ms. Ruchi Sogani as additional Independent Non-Executive Directors of the Company.

The Board also approved appointment of Mr. Nadeem Khan as an Executive Director of the Company w.e.f. October 01, 2009 and appointment of Mr. Mehmood Khan (who is an executive Director as on date) as a Managing Director w.e.f. October 01, 2009.

The stock was trading at Rs.9.10, down by Rs.0.25 or 2.67%. The stock hit an intraday high of Rs.9.25 and low of Rs.9.03.

The total traded quantity was 20600 compared to 2 week average of 60665.

Source : Equity Bulls

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