Sezal Glass allots 27500000 Equity Shares on conversion of warrants

The Board of Directors of Sezal Glass Ltd has allotted 2,75,00,000 fully paid up Equity Shares of Re. 1/- each to M/s. Sezal Realty and Infrastructure Limited pursuant to the conversion of its 2,75,00,000 Warrants (each Warrant convertible into one Equity Share of Re. 1/- each) held by M/s. Sezal Realty and Infrastructure Limited at an agreed price of Rs. 4/- each per warrant issued on preferential basis in terms of Section 81(1A) of the Companies Act, 1956 by passing Circular Resolution on March 30, 2011.

The issue of these warrants was earlier approved by the Board of Directors in their meeting held on August 17, 2009 and by the Members in Annual General Meeting held on September 15, 2009.

The stock closed the day at Rs.3.02, down by Rs.0.03 or 0.98%. The stock hit an intraday high of Rs.3.14 and low of Rs.3.01.

The total traded quantity was 2.32 lakhs compared to 2 week average of 7.25 lakhs.

Source : Equity Bulls

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