Ansal Housing & Construction approves allotment of 9 lakh shares

Ansal Housing & Construction Ltd has announced that the Board of Directors of the Company at its meeting held on November 15, 2010, has approved the allotment of 9,00,000 equity shares to the Promoters of the Company on conversion of 9,00,000 convertible warrants, each warrant convertible into one equity share of face value of Rs. 10/- at a price of Rs. 40/- (including premium of Rs. 30/-) per equity share after receipt of balance 90% amount payable on these warrants from the respective allottees of these warrants and upon exercise of their option to get the warrants converted into equal number of equity shares. The above is the 2nd and final conversion of the warrants out of a total nos. of 18,00,000 convertible warrants which were allotted to the Promoters of the Company on July 24, 2009 and were to be exercised within a period of eighteen months from the date of allotment.

The stock closed the day at Rs.64.30, down by Rs.0.45 or 0.69%. The stock hit an intraday high of Rs.65.40 and low of Rs.63.30.

The total traded quantity was 6667 compared to 2 week average of 6515.

Source : Equity Bulls

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