Urja Global allots 27954300 warrants

Urja Global Ltd has announced that the Board of Directors of the Company at its meeting held on November 27, 2009, inter alia, has considered, approved and allotted 27,954,300 convertible warrants to various promoters & strategic Investors on preferential basis as per list annexed, entitling the warrant holders to apply for an equivalent number of fully paid-up equity share of Rs. 10/- each at a premium of Re. 1/- each at any time during 18 months from the date of issue.

Further the Company has informed that, nine of the proposed allottee did not pay the full 25% upfront amount required for allotment of convertible warrants and; accordingly, appropriately less number of allotment of convertible warrants were made to them and 2,045,700 convertible warrants proposed to be issued is lapsed accordingly.

The Board approved appointment of Mr. N. K. Singh as President for the North East Project of the Company.

The Board also reviewed Business plans of the Company.

The stock was trading at Rs.36.50, up by Rs.0.25 or 0.69%. The stock hit an intraday high of Rs.37.85 and low of Rs.35.25.

The total traded quantity was 76 compared to 2 week average of 3863.

Source : Equity Bulls

Keywords