D&H Welding Electrodes to consider conversion of warrants on Mar 29, 2010

D&H Welding Electrodes India Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 29, 2010, inter alia, to consider the conversion of 2,50,000 (Two Lac Fifty Thousand) Convertible Warrants of Rs. 22.00 (Rupees Twenty Two only), into equal number of fully paid Equity Shares of Rs. 10.00 (Rupees Ten only) each at a premium of Rs 12.00 (rupees Twelve only) each per share to the applicants Harsh Kumar Vora (HUF) - 165000 and Suchita Kakrecha - 85000.

Subject to the approval of members in the Extra-ordinary General Meeting dated March 22, 2010, to allot 36,40,400 (thirty six Lakhs Forty Thousand Four Hundred) Convertible Warrants of Rs. 22.00 (Rupees Twenty Two only) each carrying right a to subscribe to equal number of equity shares in the company in one or more tranches on preferential basis, on which 25% amount will be paid at the time of allotment and the balance 75% will be brought in before conversion into equity shares in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The stock was trading at Rs.20.80. The stock hit an intraday high of Rs.21.45 and low of Rs.20.80.

The total traded quantity was 530 compared to 2 week average of 3796.

Source : Equity Bulls

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