Howard Hotels allots 1800000 shares on Conversion of Warrants

Howard Hotels Ltd has announced that the Board of Directors of the Company at its meeting held on September 03, 2010, has allotted 1800000 Equity Shares of Rs. 10 each at a premium of Rs. 2.25 each to the allottees consequent upon conversion of 1800000 Warrants allotted in terms of special resolution passed in EGM held on March 02, 2010 under SEBI (DIP) Guidelines, 2000.

The allottees include Mittal Fragrances Pvt. Ltd. (800000 shares) and Rishi Real Estates India Pvt. Ltd. (1000000 shares).

Consequent to this allotment promoter's equity holding has gone up to 31.41%.

The stock closed the day at Rs.14.60, up by Rs.0.10 or 0.69%. The stock hit an intraday high of Rs.15.20 and low of Rs.14.05.

The total traded quantity was 0.29 lakhs compared to 2 week average of 0.18 lakhs.

Source : Equity Bulls

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