Ace India to allot convertible warrants on Oct 27, 2010

Ace India Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 27, 2010, inter alia, to issue & allot Convertible Warrants to Promoters & Strategic Investors on preferential basis, entitling the warrant holders to apply for an equivalent number of fully paid-up equity share of Rs. 10 each of the Company at any time during 18 months from the date of issue.

The Board will also re-constitute the committees of the Board.

The stock was trading at Rs.41, down by Rs.0.90 or 2.15%. The stock hit an intraday high of Rs.41 and low of Rs.40.10.

The total traded quantity was 250 compared to 2 week average of 3385.

Source : Equity Bulls

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