Lok Housing allots 50 lakh Convertible Warrants on Preferential basis

Lok Housing & Constructions Ltd has announced that on December 31, 2009, Allotment Committee of the Directors of the Company has allotted 50,00,000 Convertible Warrants to Saturn Trading Pvt. Ltd., a Promoter Group Company, on preferential basis, at a price of Rs. 40/- (Rs. 10/- Face Value + Rs. 30/- Premium).

The Shareholders have accorded their consent through exercise of Postal Ballot U/S.192A of the Companies Act, 1956 and consequently allotment is made to the aforesaid Company pursuant to Section 81(1A) of the Companies Act, 1956.

The stock was trading at Rs.47.10, down by Rs.1.50 or 3.09%. The stock hit an intraday high of Rs.49.45 and low of Rs.46.45.

The total traded quantity was 307374 compared to 2 week average of 726483.

Source : Equity Bulls

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