Aurionpro Solutions cancels 1935000 warrants

Aurionpro Solutionss Ltd has announced that the Company had Issued 19,35,000 warrants at a price of Rs. 425/- per warrant on June 11, 2008 with an option to the warrant holder to convert the same into equity share within a period of 18 months from the date of allotment. The Company had received up-front 10% of the Issue price of the warrants. The time period of conversion got completed on December 10, 2009 and none of the respective warrant holders have exercised their rights to convert the warrant into equity shares and hence the rights to subscribe the warrants by bringing 90% of the balance amount as on date has already been lapsed. The money received by the Company now stands forfeited and the Company has taken effective steps of informing the respective warrant holders accordingly.

The stock was trading at Rs.294.10, up by Rs.1.60 or 0.55%. The stock hit an intraday high of Rs.300 and low of Rs.294.10.

The total traded quantity was 4032 compared to 2 week average of 9450.

Source : Equity Bulls

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