Zigma Software allots 16245000 warrants

Zigma Software Ltd has announced that the Board of Directors of the Company at its meeting held on December 02, 2010, inter alia, has considered and approved the allotment of warrants.

The Company has allotted 1,62,45,000 Fully Convertible warrants to be converted into Equivalent number of Equity Shares. The Company received 25% i.e. Rs. 2.50/- per share at the time of allotment of warrants.

The Company has now received balance 75% i.e. Rs. 7.50/- per share and application from under noted allottees who has exercised their options to convert 9,00,000 each Fully Convertible warrants upon conversion into equivalent number of Equity Shares of Rs. 10/- each.

The allottees (Non-Promoter Category) include Indus Vanijya Pvt. Ltd. (9,00,000 shares), Misty Commercial Pvt. Ltd. (9,00,000 shares), Tulip Tradecom Pvt. Ltd. (9,00,000 shares) and Ajit Vanijya Pvt. Ltd. (9,00,000 shares).

The Board has considered and approved allotment of 36,00,000 Equity shares of Rs. 10/- each to the above list of allottees upon conversion of Equivalent number of Fully Convertible warrants.

The stock closed the day at Rs.5.80. The stock hit an intraday high of Rs.6 and low of Rs.5.75.

The total traded quantity was 0.35 lakhs compared to 2 week average of 0.82 lakhs.

Source : Equity Bulls

Keywords