Span Diagnostics allots 165250 Shares on conversion of Convertible Share Warrants

Span Diagnostics Ltd has announced that the Board of Directors of the Company at its meeting held on November 04, 2009, had made allotment of 1,65,250 Shares of Rs. 10/- each at the premium of Rs. 29.97 per share fully paid up by converting the Convertible Share Warrants already issued to promoters on preferential basis. This is in pursuant to approval of the Shareholders' in Extra Ordinary General Meeting held on May 30, 2009 and in-principle approval dated May 21, 2009 of regulatory authority for issue of Convertible Share Warrants.

The Company's share capital now stands increased to Rs. 3,47,27,500 from Rs. 3,30,75,000.

The aforesaid allotment of convertible shares is made in terms of the provisions of SEBI Disclosure & Investors Protection Guidelines, 2000 issued by Securities and Exchange Board of India (SEBI), Guidelines issued by Reserve Bank of India, Government of India and other applicable laws.

The stock closed the day at Rs.53.55, down by Rs.2.40 or 4.29%. The stock hit an intraday high of Rs.57 and low of Rs.53.20.

The total traded quantity was 602 compared to 2 week average of 1441.

Source : Equity Bulls

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