Picturehouse Media allots equity shares upon conversion of Warrants and CCPS

Pursuant to the approval of the shareholders under section 81(1A) of the Companies Act, 1956 obtained on March 15, 2011, in-principal approval of Stock Exchange dated March 25, 2011 and FIPB approval dated June 09, 2011, Picturehouse Media Ltd on February 25, 2012, has allotted 3,67,54,212 equity shares of Rs. 10/- each at par upon conversion of 2,59,97,722 CCPS and 1,07,56,490 Warrants.

The allottees include Mrs. Jhansi Sureddi (2,59,97,722 shares), M/s. Rayudu Media Projects Private Limited (35,06,490 shares), M/s. Pearl Dealers Private Limited (25,00,000 shares) and Sparrow Asia Diversified Opportunity Fund (47,50,000 shares).

Consequent upon this allotment, the issued, subscribed and paid-up share capital of the Company has increased to Rs. 52,25,00,000/- divided into 5,22,50,000 equity shares of Rs. 10 each fully paid up in cash.

The Picturehouse Media Ltd stock closed the day at Rs.31.30, up by Rs.0.60 or 1.95%. The stock hit an intraday high of Rs.31.30 and low of Rs.30.10.

The total traded quantity was 21502 compared to 2 week average of 8395.

Source : Equity Bulls

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