Mold-Tek Packaging to issue convertible warrants at Rs 45.40

Mold-Tek Packaging Ltd has announced that the Board of Directors of the Company at its Meeting held on June 04, 2010, inter alia, have considered further issue of capital, subject to approval of Members in General Meeting.

The Board approved increase in Authorised Capital from Rs. 10 Crores to Rs. 13.5 Crores.

The Board approved issue of 22,50,000 Fully Convertible Warrants, at a price of Rs. 45.40/- (comprising nominal value Rs. 10/- and premium of Rs. 35.40/- per fully convertible warrant) to Promoters and Others.

The Board also granted options under the "MTPL Employees Stock Option Scheme".

The Board approved proposal to hold an Extra-Ordinary General meeting of the Members of the Company on July 01, 2010.

The stock closed the day at Rs.61.55, down by Rs.1.40 or 2.22%. The stock hit an intraday high of Rs.65.10 and low of Rs.60.50.

The total traded quantity was 164270 compared to 2 week average of 150286.

Source : Equity Bulls

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