Gammon Infrastructure allots 750000 Equity Shares

Gammon Infrastructure Projects Ltd has announced that the Compensation Committee of the Board has by way of circular resolution approved the issue and allotment of 7,50,000 equity shares of Rs. 2/- per share to Mr. Parvez Umrigar, Managing Director of the Company on April 30, 2010 following the exercise of the stock options by Mr. Umrigar under the 'GIPL Employee Stock Option Scheme - 2007' (pre-IPO). Upon the allotment of these shares, the paid up capital of the Company stand increased to 72,51,89,750 equity shares of Rs. 2/- each.

The stock was trading at Rs.28.15, down by Rs.0.65 or 2.26%. The stock hit an intraday high of Rs.28.85 and low of Rs.28.

The total traded quantity was 285534 compared to 2 week average of 1470707.

Source : Equity Bulls

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