Splash Media converts 568000 warrants

Splash Media Works Ltd has announced that the Board of Directors of the Company at its meeting held on September 15, 2009, inter alia, has converted the 5,68,000 warrants in to 568000 Equity Shares out of 10,96,500 erstwhile warrants allotted on preferential basis and consequently approved the allotment of such converted 5,68,000 Equity shares of face value of Rs. 10/- each at issue price of Rs. 83/- each.

The Board of directors has decided to call another Board meeting on September 19, 2009 to consider upon conversion and consequent allotment of remaining warrants.

The stock closed the day at Rs.253.65, up by Rs.12.05 or 4.99%. The stock hit an intraday high of Rs.253.65 and low of Rs.253.65.

The total traded quantity was 3509 compared to 2 week average of 3884.

Source : Equity Bulls

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