Mahindra Lifespace Developers allots 1000 Equity Shares

Mahindra Lifespace Developers Ltd has announced that the Share Allotment Committee of the Board vide resolution passed by circulation dated September 08, 2010 have issued and allotted 1000 new fully paid-up Equity Shares of Rs. 10/- each to the Eligible Employee / Director on the exercise of Options granted under Employee Stock Options Scheme 2006 (ESOS - 2006), at an exercise price of Rs. 428/- per share.

The aforesaid 1000 new Equity shares shall be subject to Lock-in for a period of 30 days from the date of allotment i.e.; upto October 07, 2010.

Pursuant to this allotment, the issued equity capital of the Company has increased from Rs. 40,87,95,010 to Rs. 40,88,05,010 and subscribed & paid up equity capital of the Company has increased from Rs. 40,83,41,500 to Rs. 40,83,51,500 and Share Premium Account has gone up from Rs. 67660.61 lakh to Rs. 67664.79 lakh.

The equity shares allotted as above shall, rank pari-passu with the existing equity shares of the Company and shall be entitled to such dividends and corporate benefits, if any, declared by the Company after the allotment.

The stock closed the day at Rs.464.95, down by Rs.0.45 or 0.10%. The stock hit an intraday high of Rs.472 and low of Rs.464.05.

The total traded quantity was 6855 compared to 2 week average of 7787.

Source : Equity Bulls

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