D&H Welding Electrodes to issue 3640400 shares

D&H Welding Electrodes India Ltd has announced that the Board of Directors of the Company at its meeting held on February 20, 2010, has approved subject to the approval of members at the Extra-ordinary General Meeting, the Board has decided to offer, issue and allot 36,40,400 (Thirty Six Lacs Forty Thousand Four Hundred) Convertible Warrants of Rs. 22.00 each (Rs. Twenty Two only) to the promoter and non-promoters on preferential basis, which will be converted into equity shares in one or more trenches in accordance with SEBI Guidelines.

The Extra-ordinary General Meeting of the Company is scheduled to be held on March 22, 2010.

The stock was trading at Rs.21.30, down by Rs.0.25 or 1.16%. The stock hit an intraday high of Rs.21.35 and low of Rs.21.30.

The total traded quantity was 200 compared to 2 week average of 2760.

Source : Equity Bulls

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