Subex allots 40 lakh Shares under preferential allotment

Subex Ltd has announced that the Board of Directors of the Company has issued 4,000,000 equity shares to M/s. Woodbridge Consultants, all entity belonging to Promoters/Promoter Group, at a price of Rs. 80/- per equity share, being higher than the minimum price computed in accordance with Chapter VII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The preferential allotment was approved by the shareholders of the Company at their Extraordinary General Meeting held on March 04, 2010.

Consequent to the allotment, the paid-up share capital of the Company has increased from Rs. 527,835,380 to Rs. 567,835,380. The post-allotment shareholding of the Promoters/Promoter Group stands at 14.92%.

The stock was trading at Rs.64.80, up by Rs.3.55 or 5.80%. The stock hit an intraday high of Rs.70 and low of Rs.60.60.

The total traded quantity was 1040605 compared to 2 week average of 205252.

Source : Equity Bulls

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