Sql Star to allot warrants, shares

Sql Star International Ltd has announced that the Board of Directors of the Company at its meeting held on November 27, 2009, inter alia, has taken the following major decisions, besides other decisions on routine operational matters.

The Board approved allotment of 10,525,000 Equity Shares of Rs. 10/- each and the allotment of 48,25,000 Share Warrants of Rs. 10/- each.

The Board accepted the decision of Mr. N. R. Ganti to step down from the post of Chairman and Managing Director of the Company with effect from November 30, 2009 and to serve as Advisor to the Company.

The Board approved appointment of Mr. C. P. Khandelwal as a Non- Executive Chairman of the Company. The Board further recorded that till such time a new Managing Director is appointed, the functions of the Company will be managed by the Board.

The stock closed the day at Rs.14.60, down by Rs.0.20 or 1.35%. The stock hit an intraday high of Rs.15 and low of Rs.14.10.

The total traded quantity was 12879 compared to 2 week average of 9201.

Source : Equity Bulls

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