Beckons Industries to convert 16.50 lakh warrants

Beckons Industries Ltd has announced that the Board of Directors of the Company at its meeting held on October 06, 2009, has taken note of the receipt of balance payment in respect of 16,50,000 Convertible Warrants already allotted on April 11, 2008 and further resolved to allot 16,50,000 Equity Shares against the conversion of Warrants as per SEBI guidelines at a price of Rs. 10/- each.

The Board also authorized Mr. Gurmeet Singh, Managing Director to file the listing application in respect of enlistment of 16,50,000 equity shares with Stock Exchange.

The Board also discussed the research work on Bio-fuel Project and expressed satisfaction in the progress of the project.

The stock closed the day at Rs.8.29, up by Rs.0.38 or 4.80%. The stock hit an intraday high of Rs.8.30 and low of Rs.7.95.

The total traded quantity was 107221 compared to 2 week average of 71774.

Source : Equity Bulls

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