Silver Smith cancels warrants

Silver Smith India Ltd had allotted 10,79,400 warrants to CNI Research Ltd (Non Promoters - Bodies Corporate) - 270000, Naresh Kumar Agarwal & Sons (HUF) (Non Promoters - Indian Public) - 100000, B K Narula (Promoters) - 457400 and Sanjay Mittal (Non Promoters - Indian Public) - 252000 on preferential basis under the SEBI (Disclosure Investor Protection ) guidelines, 2000 on June 24, 2008. Each of these warrants were convertible into one equity share of Rs. 10/- each at a price not less than Rs. 40/- at the option of the Allottees.

These options have not been exercised till the last day of its conversion. Accordingly the warrants stands cancelled.

The Stock was trading at Rs.28.15, down by Rs.1.35 or 4.58%. The stock hit an intraday high of Rs.30.95 and low of Rs.28.15.

The total traded quantity was 1045 compared to 2 week average of 4369.

Source : Equity Bulls

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