Sagar Cements allots shares to promoters at Rs.82

Sagar Cements Ltd has announced that the Board of Directors of the Company at its meeting held on March 09, 2007, has allotted 5,50,000 equity shares to the promoter group against conversion of the part of the Warrants earlier allotted to them in accordance with the approval given by the shareholders at the 25th Annual General Meeting held on September 28, 2006. These shares have been issued at the rate of Rs 82/- per share (including a premium of Rs 72/- per share) in accordance with the terms and conditions of the issue of on the convertible Warrants.

Source : Equity Bulls

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