Autoline Industries warrants lapse

Autoline Industries Ltd has announced with reference to the issue of 10,80,000 warrants convertible into equity shares at an issue price of Rs. 250/- per warrant made on June 17, 2008, that as per terms of the issue & Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, warrant holders were supposed to exercise the option of conversion within 18 months from the date of allotment i.e. on or before i.e. December 16, 2009.

Further the Company has informed that the Share Allotment Committee of the Company at its meeting held on December 17, 2009 noted that none of the warrant holder had exercised the said option to covert. Accordingly such entitlement has lapsed and Rs. 25/- per CWs {being 10% of issue price) total amounting to Rs. 2.70 Crores paid on the above CWs have been forfeited by the Company.

The stock was trading at Rs.123, down by Rs.0.95 or 0.77%. The stock hit an intraday high of Rs.124.95 and low of Rs.119.

The total traded quantity was 4576 compared to 2 week average of 17133.

Source : Equity Bulls

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