Spentex Industries allots 2261000 Shares

Spentex Industries Ltd has announced that the Company issued & allotted 1,18,00,000 convertible warrants to CLC Technologies Private Ltd (formerly known as CLC Technologies Ltd), On December 12, 2009 with an option to convert the issued warrants in equal numbers of equity shares at the sole option of the holder at any time before expiry of 18 months from the date of its allotment in one or more trenches at an exercise price of Rs 16.95 per warrant/share.

With the exercise of option by the warrant holder, the Board of Directors on March 31, 2010 considered and allotted. 22,61,000 fully paid up equity shares of Rs. 10/- each by conversion of warrants into equity shares with distinctive no 71472036 to 73733035 to M/s CLC Technologies Private Ltd (formerly known as CLC Technologies Ltd) in first trench out of total 1,18,00,000 warrants issued on December 12, 2009.

The stock was trading at Rs.12.44, up by Rs.1.13 or 9.99%. The stock hit an intraday high of Rs.12.44 and low of Rs.11.27.

The total traded quantity was 28365 compared to 2 week average of 26480.

Source : Equity Bulls

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