Zen Technologies allots 350000 warrants

Zen Technologies Ltd has announced that pursuant to the resolution passed at the Extraordinary General Meeting held on February 19, 2008 the Company has allotted 3,50,000 share warrants convertible into equal number of Equity Shares of Rs. 10/- each at a premium of Rs. 125/- on March 17, 2008 to Mr. M. Ravi Kumar, Director and Mr. Kishore Dutt Atluri, President of the Company on payment of 10% of total amount payable i.e. Rs.47,25,000/-.

Further the Company has informed that, they have remitted the balance amount of Rs. 4.25 crores (90% of total amount) and surrendered share warrant certificates to exercise their option to convert the share warrants.

The stock was trading at Rs.295.50, up by Rs.8.90 or 3.11%. The stock hit an intraday high of Rs.299 and low of Rs.283.30.

The total traded quantity was 98984 compared to 2 week average of 114634.

Source : Equity Bulls

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