Ador Multiproducts approves allotment of 93239 shares

Ador Multiproducts Ltd has announced that the Board of Directors of the Company at its meeting held on March 30, 2010, have approved allotment of 93,239 equity shares of the nominal value of Rs. 10/- each at a premium of Rs. 6/- aggregating to Rs. 16/- per share to the Promoter Company, J B Advani and Company Private Limited, in accordance with the provisions of Section 81 (1A) of the Companies Act and other applicable provisions and regulations, including the Securities and Exchange Board of India.

The Number of warrants converted to Equity Shares was 93239. The Amount paid on issue of warrants (equivalent to 25% comprising nominal value of Rs. 10/- issued at a premium of Rs. 6/- per share) was Rs. 3,72,956/-. The Amount on conversion (Balance of 75% comprising nominal value of Rs. 10/- issued at a premium of Rs. 6/- per share) is Rs. 11,18,868/- paid.

The stock closed the day at Rs.17.10, up by Rs.0.75 or 4.59%. The stock hit an intraday high of Rs.17.10 and low of Rs.15.65.

The total traded quantity was 2056 compared to 2 week average of 1438.

Source : Equity Bulls

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