Venus Remedies approves issue of warrants

Venus Remedies Ltd has announced that the Board of Directors of the Company at its meeting held on August 24, 2010, inter alia, has approved issue of fully convertible warrants on a preferential basis to Sunev Pharma Solutions Ltd., a Promoter group Company upto 5% of the total capital in accordance with SEBI (Substantial Acquisitions and Takeovers) Regulations, 1997.

The same is also subject to applicable provisions of SEBI/Companies Act and approval of shareholders at the forthcoming Annual General Meeting.

The stock closed the day at Rs.271.20, down by Rs.3.70 or 1.35%. The stock hit an intraday high of Rs.276.90 and low of Rs.268.10.

The total traded quantity was 5805 compared to 2 week average of 10396.

Source : Equity Bulls

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