Sasken Communication allots 3 lakh Convertible Warrants

Sasken Communication Technologies Ltd has announced that pursuant to the Special Resolution passed by the Company through Postal Ballot on March 15, 2010 and in accordance with the SEBI (ICDR) Regulations, 2009, the Committee of Directors on March 29, 2010, allotted 300,000 (Three Lakhs) convertible Warrants to Mr. Rajiv C. Mody, Chairman & Managing Director on a preferential basis on such terms and conditions as contained in the said Special Resolution.

The allottee shall be entitled for one equity share of Rs. 10 each of the Company for each such warrant at a price of Rs. 176 each. The said allottee has paid 25% of the consideration and the remaining 75% would be paid by him as and when he applies for the underlying equity shares.

The stock closed the day at Rs.170.65, down by Rs.1.95 or 1.13%. The stock hit an intraday high of Rs.174.55 and low of Rs.170.

The total traded quantity was 33335 compared to 2 week average of 59594.

Source : Equity Bulls

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