Dynamatic Technologies to issue warrants

The Board of Directors of Dynamatic Technologies Ltd at its meeting held on February 05, 2013 decided on fund raising proposal.

In order to fund the growth in aerospace business, and in order to de-leverage the Balance Sheet of the Company, the Board considered and approved preferential issue of convertible warrants to Promoter and/or Promoter Group, and preferential issue of equity shares to certain identified investors subject to the shareholders' and regulatory approvals.

The Board or any Committee of the Board of Directors constituted to carry out the above said preferential issue shall decide on the date, time and venue to convene the Extraordinary General Meeting in order to obtain necessary approval from the shareholders.

The Dynamatic Technologies Ltd stock closed the day at Rs.864.90, up by Rs.16.60 or 1.96%. The stock hit an intraday high of Rs.865 and low of Rs.845.

The total traded quantity was 136 compared to 2 week average of 361.

Source : Equity Bulls

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