Allcargo Global Logistics allots 1513514 Equity Shares

Allcargo Global Logistics Ltd has announced that the Board of Directors of the Company, vide resolution passed by circulation on October 22, 2009, has approved the allotment of 1,513,514 equity shares of Rs. 10 each of the Company at a premium of Rs. 924 per equity share to Blackstone Entities (Investors) on conversion of 1,513,514 Warrants of Rs. 10 each, which were issued to them on preferential basis on March 27, 2008.

With the aforesaid allotment of equity shares, the total paid up share capital of the Company has increased from Rs. 234,487,390 divided into 23,448,739 equity shares of Rs. 10 each to Rs. 249,622,530 divided into 24,962,253 equity shares of Rs. 10 each. The equity shares so allotted shall rank pari passu in all respect with the existing equity shares of the Company including dividend entitlement".

The stock closed the day at Rs.855, up by Rs.14.60 or 1.74%. The stock hit an intraday high of Rs.855 and low of Rs.832.

The total traded quantity was 4224 compared to 2 week average of 3191.

Source : Equity Bulls

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