Midpoint Software allots 2200750 shares

Midpoint Software & Electro Systems Ltd has announced that the Board of Directors of the Company at its meeting held on September 11, 2010, have approved the issue & allotment of 22,00,750 Equity Shares of Rs. 10/- each and 70,42,400 0% Optionally Convertible Redeemable Preference Shares of Rs. 10/- each in the Share capital of the Company to the shareholders of erstwhile NHC Industries Pvt. Ltd. (NHC) in the ratio of 5 (Five) Equity Shares of the Company of Rs. 10/- each fully paid up for every 4 (Four) Equity Shares of Rs. 10/- each fully paid up held in the Share Capital of NHC and 4 (Four) 0% Optionally Convertible Redeemable Preference Shares of the Company of Rs. 10/- each fully paid up for every 1 (One) Equity Share of Rs. 10/- each fully paid up held in the share capital of NHC, the transferor Company.

The Board approved appointment of Mrs. Alpa Shah, as an additional director of the Company.

The stock was trading at Rs.27.55, up by Rs.1.30 or 4.95%. The stock hit an intraday high of Rs.27.55 and low of Rs.26.25.

The total traded quantity was 515 compared to 2 week average of 1806.

Source : Equity Bulls

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