Vivimed Labs seeks EGM approval for issue of 15 lakh warrants

Vivimed Labs Ltd has announced that the Board of Directors of the Company at its meeting held on October 16, 2009, has passed resolution to call for and convene Extra Ordinary General Meeting of the Members on November 21, 2009 to obtain consent/ approval of the members for Preferential Issue of upto 15,00,000 Warrants, convertible into Equity Shares at a issue price of Rs. 120 per warrant determined in accordance with relevant SEBI Regulations, at the option of warrant holders, within 18 months from the date of allotment of warrants, at one equity share of Rs. 10 fully paid up for each warrant.

The stock was trading at Rs.136, up by Rs.5.60 or 4.29%. The stock hit an intraday high of Rs.136.90 and low of Rs.131.50.

The total traded quantity was 58090 compared to 2 week average of 38745.

Source : Equity Bulls

Keywords