Gati allots warrants to Mahendra Kumar Agarwal

Gati Ltd has announced that the Committee of Directors (CoD) in its meeting held on February 13, 2010, allots convertible warrants to Mr. Mahendra Kumar Agarwal, one of the promoters of the Company on preferential basis.

The Board allotted 4,872,000 warrants, convertible, at the option of the warrant holder within an aggregate time period of 18 months from the date of allotment of the warrants, into 4,872,000 Equity Shares of Rs. 2/- each, at a premium of Rs. 79/- per share for cash and 5,360,400 warrants, convertible, at the option of the warrant holder within an aggregate time period of 18 months from the date of allotment of the warrants, into 5,360,400 Equity Shares of Rs. 2/- each, at a premium of Rs. 56/- per share for cash.

The stock was trading at Rs.59.50, down by Rs.1.80 or 2.94%. The stock hit an intraday high of Rs.62.50 and low of Rs.58.95.

The total traded quantity was 495311 compared to 2 week average of 790345.

Source : Equity Bulls

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