Bheema Cements forfeits warrants application money

Bheema Cements Ltd has announced that the Board of Directors of the Company at its meeting held on April 21, 2010, has noted the forfeiture of warrants.

The Promoters have not exercised their option to convert the 20,00,000 warrants allotted on October 08, 2008, which were due for conversion on or before April 07, 2010, because of the reason that after the conversion their holding crossing 75%. Hence Board is noted the same and forfeited the application money paid for these 20,00,000 Warrants.

The stock closed the day at Rs.83, down by Rs.0.15 or 0.18%. The stock hit an intraday high of Rs.87.30 and low of Rs.82.75.

The total traded quantity was 39150 compared to 2 week average of 79868.

Source : Equity Bulls

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