Medicamen Biotech allots 165976 shares to Pharmadanica

The Board of Directors of Medicamen Biotech Ltd at its meeting held on March 19, 2011, has allotted 1,65,976 Equity Shares, to Pharmadanica A/S, a Danish Company at a price of Rs. 29/- per equity share (including a premium of Rs. 19/- each), pursuant to Section 81(1A) of the Companies Act, 1956, the provisions of FEMA, 1999 and SEBI (ICDR) Regulations, 2009.

The Board also approved allotment of 8,82,400 Warrants, convertible into Equity Shares at a price of Rs. 29/- per warrant (including a premium of Rs. 19/- each), pursuant to Section 81(1A) of the Companies Act, 1956 and SEBI (ICDR) Regulations, 2009.

The allottees of warrants include Bal Kishan Gupta (Promoter) - 6,02,400, Sanjal Bansal (Person Acting in Concert) - 2,00,000, Rajesh Madan (Non-Promoter) - 50,000 and Rajesh Kumar Gupta (Non-Promoter) - 30,000.

The stock was trading at Rs.25.50, down by Rs.0.30 or 1.16%. The stock hit an intraday high of Rs.25.95 and low of Rs.25.50.

The total traded quantity was 250 compared to 2 week average of 2473.

Source : Equity Bulls

Keywords