Sequent Scientific allots 27,50,000 Warrants to promoters/promoter Group on preferential Basis

Pursuant to the resolution passed by the shareholders of Sequent Scientific Ltd at the Extraordinary General Meeting held on March 20, 2013, the Company has allotted 27,50,000 warrants at a price of Rs. 172.00 per warrant (including a premium of Rs. 162.00 per warrant) convertible into 27,50,000 equity shares of Rs. 10/- to the Promoter Group entities on March 30, 2013.

The allottees include Agnus Capital LLP - 13,75,000 warrants and Chayadeep Ventures LLP -13,75,000 warrants. The warrants are convertible Into equity shares within a period of 18 months from the date of issue.

Shares of Sequent Scientific Ltd last traded in BSE at Rs.157.70, up by Rs.25.10 or 18.93%. The stock hit an intraday high of Rs.159.10 and low of Rs.138.

The total traded quantity was 0.50 lakhs compared to 2 week average of 0.19 lakhs.

Source : Equity Bulls

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