Gemini Communication to consider allotment of shares on conversion of warrants

Gemini Communication Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 27, 2007, inter alia, to consider allotment of equity shares on conversion of equity warrants allotted on preferentially on May 17, 2006 to the promoters and others totaling 5,00,000 equity warrants of Rs 10/- at a premium of Rs 335/- per warrant and the same equity warrants were sub divided into Rs 5/- each into 10,00,000 equity warrants with effect from August 25, 2006.

The stock closed the day at Rs.404.95, up by Rs.17.70 or 4.57%. The stock hit an intraday high of Rs.406 and low of Rs.390. The total traded quantity was 27108 shares compared to 2 week average of 9909.

Source : Equity Bulls

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