Ladderup Finance allots 50 lakhs warrants

Ladderup Finance Ltd has announced that the Board of Directors of the Company at its meeting held on October 25, 2010, inter alia, has allotted 50,00,000 (Fifty Lacs) Convertible Share Warrants on preferential basis to Promoter Group and other proposed allottees pursuant to Section 81 (1A) of the Companies Act, 1956 and SEBI (ICDR) Regulation, 2009.

The Board considered and approved the appointment of Mr. K. Raghuraman, as an Additional Director of the Company, in the category of Non-Executive Independent Director, w.e.f. October 25, 2010.

The Board re-constituted the Audit Committee pursuant to resignation of Mr. Burzin Somandy and appointment of Mr. K. Raghuraman.

The Board also re-constituted the Remuneration committee pursuant to resignation of Mr. Burzin Somandy and appointment of Mr. K. Raghuraman.

The stock closed the day at Rs.31.85, down by Rs.1.65 or 4.93%. The stock hit an intraday high of Rs.35.15 and low of Rs.31.85.

The total traded quantity was 200 compared to 2 week average of 543.

Source : Equity Bulls

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