Micro Technologies allots Equity Shares on conversion of Compulsorily Convertible Debentures

The Allotment Committee of the Board of Directors of Micro Technologies (India) Ltd at its meeting held on February 11, 2012, has approved the conversion of 5,00,000 Compulsorily Convertible Debentures which had been allotted on February 12, 2011, at Rs. 400/- per debenture into 12,24,439 equity shares at the rate of Rs. 163.34/- per share.

Consequent to the aforesaid allotment, the paid up capital of the Company has gone up from Rs. 14,32,76,340/- consisting of 1,43,27,634 Equity shares of Rs. 10/- each to Rs. 15,55,20,730/- consisting of 1,55,52,073 equity shares of Rs. 10/- each.

The Micro Technologies (India) Ltd stock closed the day at Rs.175.70, up by Rs.0.40 or 0.23%. The stock hit an intraday high of Rs.177.80 and low of Rs.173.55.

The total traded quantity was 0.19 lakhs compared to 2 week average of 0.31 lakhs.

Source : Equity Bulls

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