XL Telecom allots CRPS and warrants

XL Telecom & Energy Ltd has announced that the Board of Directors of the Company at its meeting held on June 25, 2010, has raised Rs. 49,21,38,700/- by issuing 4,92,13,870 Cumulative Redeemable Preference Shares of Rs 10/- each to banks.

The Board has fixed the price of preferential warrants at Rs. 36.10 per warrants as per SEBI (ICDR) Regulations.

The Board has decided to call for an Extra Ordinary General Meeting on July 23, 2010 to consider the change of name of the Company and approved the same.

The Board has accepted the resignation of the foreign Director Mr. Wolfgang Werner Knop and placed on the record the appreciation for the guidance during his tenure.

The stock was trading at Rs.36.10, up by Rs.0.45 or 1.26%. The stock hit an intraday high of Rs.36.30 and low of Rs.35.70.

The total traded quantity was 18012 compared to 2 week average of 130985.

Source : Equity Bulls

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