Empower Industries allots 6 crore shares

Empower Industries India Ltd has announced that the Board of Directors of the Company at its meeting held on July 13, 2010, inter alia, has approved the issue of 6,00,00,000 Equity Shares of Rs. 1/- each in lieu of Convertible Equity Warrants issued on Preferential Basis to Allottees as Approved by the Members in the EOGM held on March 09, 2010.

The Company has also issued 69,00,00,000 Equity Shares as Bonus shares to the above mentioned Equity Shareholders after Conversion of Convertible Equity Warrants in Ratio of 23:2 as Approved by the members in the EOGM held on March 09, 2010.

The stock closed the day at Rs.6.05, down by Rs.0.10 or 1.63%. The stock hit an intraday high of Rs.6.38 and low of Rs.6.01.

The total traded quantity was 92291 compared to 2 week average of 118188.

Source : Equity Bulls

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