Man Industries allots 500000 Equity Shares on Conversion of Warrants

The Board of Directors of Man Industries (India) Ltd vide a resolution passed by circulation on March 04, 2011, has approved the allotment of 5,00,000 (Five Lacs) Equity Shares of Rs. 5/- each at a premium of Rs. 30/- per equity share, pursuant to conversion of 5,00,000 (Five Lacs) number of warrants allotted to the person forming part of promoters group, as per Board Resolution dated September 04, 2009.

Due to the allotment of 500000 equity shares of Rs.5 each fully paid up as mentioned above, the total number of fully paid up shares stands increased from 5,47,84,874 to 5,52,84,874 shares of Rs.5 each.

The stock closed the day at Rs.59.20, down by Rs.2.20 or 3.58%. The stock hit an intraday high of Rs.62.40 and low of Rs.58.75.

The total traded quantity was 0.11 lakhs compared to 2 week average of 0.17 lakhs.

Source : Equity Bulls

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