D&H Welding Electrodes India forfeits 26 lakh warrants

On April 05, 2010, D&H Welding Electrodes India Ltd had allotted 36,40,400 Convertible Warrants of Rs. 22.00 (Rs. Twenty two only) Convertible into equal number of Equity Shares of Rs. 10.00 (Rupees Ten Only) at a premium of Rs. 12.00 (Rupees Twelve Only) per share on preferential basis to promoters and non promoters. The warrants are due for conversion before October 05, 2011.

The Company has not received the balance 75% of the allotment money (consideration) against 26,00,000 Convertible Warrants issued on preferential basis to promoters and non promoters, hence the Company has forfeited 26,00,000 Convertible warrants out of 36,40,400 Convertible Warrants.

The stock closed the day at Rs.16.20, down by Rs.0.55 or 3.28%. The stock hit an intraday high of Rs.16.75 and low of Rs.16.15.

The total traded quantity was 1200 compared to 2 week average of 1171.

Source : Equity Bulls

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