Spentex Industries allots 3747000 Shares on conversion of Share Warrants

Pursuant to exercise of option of conversion of warrant by the warrant holder, the Board of Directors of Spentex Industries Ltd on March 31, 2011 considered and allotted 37,47,000 fully paid up equity shares of Rs. 10/- each at a premium of Rs. 6.95 by conversion of same number of warrants into equity shares to M/s. CLC Technologies Pvt. Ltd. (formerly known as CLC Technologies Ltd.) in this third trench out of total 1,18,00,000 warrants issued on December 12, 2009.

The stock closed the day at Rs.16.30, down by Rs.0.80 or 4.68%. The stock hit an intraday high of Rs.17.20 and low of Rs.16.30.

The total traded quantity was 4197 compared to 2 week average of 22004.

Source : Equity Bulls

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