Ester Industries allots 5217392 shares

Ester Industries Ltd has announced that the Board of Directors of the Company at its meeting held on December 24, 2009, has allotted 5,217,392 Nos. Equity Shares of face value of Rs. 5/- each, at a premium of Rs. 18/- per share, upon conversion of 5,217,392 Zero Coupon Unsecured Fully and Compulsorily Convertible Debentures to M/s. Wilemina Finance Corporation and Naomi Consolidated Inc, in equal proportion.

Further, Board of Directors in the same meeting has also allotted 2,173,914 Nos. Equity Shares of face value of Rs. 5/- each, at a premium of Rs. 18/- per share upon conversion of 2,173,914 Zero Coupon Convertible Share Warrants, to Super Leasing Ltd.

The above allotment has been made pursuant to the special resolution passed by the members in the Extra Ordinary General Meeting of the Company held on October 21, 2009.

The stock closed the day at Rs.20.75, up by Rs.0.45 or 2.22%. The stock hit an intraday high of Rs.21 and low of Rs.20.30.

The total traded quantity was 135410 compared to 2 week average of 81824.

Source : Equity Bulls

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