D&H Welding Electrodes approves conversion of 2.5 lakh warrants

D&H Welding Electrodes India Ltd has announced that the Board of Directors of the Company at its meeting held on October 05, 2009, inter alia, approved the Conversion of 2,50,000 (Two Lac Fifty Thousand) Convertible Warrants of Rs. 22.00 (Rupees Twenty Two only), by allotting equal number of fully paid Equity Shares of Rs. 10.00 each (Rupees Ten only) at a premium of Rs. 12 (Rupees Twelve only) each per share in accordance with the SEBI Guidelines.

Kiran Vora was allotted 165000 equity shares which is 3.16% of post issued share capital. Priya Karecha was allotted 85000 equity shares which was 1.43% of post issued share capital.

The stock closed the day at Rs.22.70, down by Rs.0.75 or 3.20%. The stock hit an intraday high of Rs.24.20 and low of Rs.21.

The total traded quantity was 16220 compared to 2 week average of 28337.

Source : Equity Bulls

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