Moldtek Technologies allots shares on preferential basis

Mold Tek Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on April 08, 2010, inter-alia, have considered and allotted shares on preferential basis.

The Board allotted on Preferential basis 3,80,000 Equity Shares at a price of Rs. 75/- per Equity Share [comprising nominal value of Rs. 10/- and premium of Rs. 65/-] to Mold-Tek Packaging Limited (formally known as Mold-Tek Plastics Limited) by way of conversion of Unsecured Loan into Equity.

The Board allotted on Preferential basis 1,31,624 Equity Shares at a price of Rs. 75/- per Equity Share [comprising nominal value of Rs.10 and premium of Rs.65/-] to RMM Global LLC for consideration other than cash.

The Board also allotted on Preferential basis 13,333 Equity Shares at a price of Rs.75/- per Equity Share [comprising nominal value of Rs.10 and premium of Rs.65/-] to Technet Engineering Services Pvt Ltd for consideration other than cash.

The stock was trading at Rs.63.10, up by Rs.0.35 or 0.56%. The stock hit an intraday high of Rs.64.25 and low of Rs.62.15.

The total traded quantity was 1059 compared to 2 week average of 12003.

Source : Equity Bulls

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