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United Credit subsidiary United Nanotech to allot 2,50,000 shares to NEI Corporation, USA

United Credit Ltd has announced that, by virtue of holding more than 50% of the Paid-up Equity Shares of United Nanotech Products Ltd, the Company became the Holding Company of United Nanotech Products Ltd.

Further the Company has informed that, United Nanotech Products Ltd has informed the Company vide its letter dated May 09, 2007 that they would consider allotment of further 2,50,000 Equity Shares of Rs 10/- each to NEI Corporation, U.S.A. on May 18, 2007. Upon such allotment to NEI Corporation, U.S.A., the Company will cease to be the Holding Company of United Nanotech Products Ltd.

The stock was trading at Rs.38.35, up by Rs.0.90 or 2.40%. The stock hit an intraday high of Rs.38.55 and low of Rs.35.75. The total traded quantity was 2685 compared to 2 week average of 4566.

Source: Equity Bulls

Posted On: 2007-05-10 23:17:41

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