Shiva Cement to consider conversion of warrants on Dec 07, 2010

Shiva Cement Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 07, 2010, inter alia, to consider conversion of 74,00,000 Equity Share Warrants (Out of 90,00,000 Equity Share Warrants issued) into Equity Shares of Rs. 2/- each at a premium of Rs. 9/- per share.

The Board will also consider allotment of 110,36,028 Equity Share Warrants to Promoter Group at a price of Rs. 11/-.

The stock closed the day at Rs.8.59, down by Rs.0.10 or 1.15%. The stock hit an intraday high of Rs.8.71 and low of Rs.8.50.

The total traded quantity was 4.21 lakhs compared to 2 week average of 21.13 lakhs.

Source : Equity Bulls

Keywords