Prime Focus approves allotment of 10 lakh warrants

Prime Focus Ltd has announced that the Board of Directors of the Company vide Board Resolution dated October 15, 2010 has, inter-alia approved and allotted 10,00,000 Warrants, convertible into Equity Shares, on preferential basis to Mr. Namit Malhotra, Promoter, at the price of Rs. 554.78 per Warrant on the terms and conditions as approved by the Shareholders, in accordance with Chapter VII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Board has approved the constitution of QIP Committee.

The Board has appointed Mr. Navin Agarwal as Company Secretary and Compliance Officer of the Company with effect from October 15, 2010 in place of Mr. Vicky Kundaliya.

The stock closed the day at Rs.688.20, down by Rs.10.90 or 1.56%. The stock hit an intraday high of Rs.715 and low of Rs.685.10.

The total traded quantity was 0.35 lakhs compared to 2 week average of 0.96 lakhs.

Source : Equity Bulls

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