Sancia Global Infraprojects allots 350000 Shares on Conversion of Warrants

The Board of Directors Meeting of Sancia Global Infraprojects Ltd held on February 14, 2011, has considered, discussed and approved allotment of 350,000 equity shares on conversion of warrants to the Promoter/ Promoter Group/ Investors on exercising of options attached to the warrant holder to acquire, one fully paid up equity share within 18 months from the date of allotment of the warrants in accordance with The Securities And Exchange Board Of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time.

Ares Diversified Fund (Non-Promoter Group) was allotted 350000 equity shares.

4,90,00,000 Convertible Warrants were allotted to the above Promoters/ Promoter Group/ Investors pursuant to the special resolution in accordance with the Section 81(1A) of the Companies Act, 1956 and preferential issue guidelines of SEBI passed by the members at the Extra-Ordinary General Meeting held on June 01, 2009. And the warrant holders have partly exercised their options earlier on December 08, 2009.

The paid up capital of the Company has increased from 43048804 to 43398804. The Equity shall rank pari-passu in all respect with the existing equity shares of the Company.

The stock was trading at Rs.6.66, down by Rs.0.12 or 1.77%. The stock hit an intraday high of Rs.6.95 and low of Rs.6.43.

The total traded quantity was 0.15 lakhs compared to 2 week average of 0.27 lakhs.

Source : Equity Bulls

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