Aban Offshore Ltd to seek nod for issue of 40 lakh warrants

The Board of Directors of Aban Offshore Ltd at its meeting held on January 10, 2014 has decided to seek the approval of shareholders for issue and allotment of 40,00,000 Convertible Warrants on Preferential basis to the Promoters / Promoter Group. Pursuant to SEBI (ICDR) Regulations 2011 and SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the promoters / promoters group will be allotted the above mentioned Convertible Warrants.

Pursuant to Section 81 (1A) and Section 192A of the Companies Act, 1956, read with the Companies (Passing of Resolution by Postal Ballot) Rules 2011, the approval of shareholders will be sought for the said issue and allotment of Convertible Warrants by way of a Postal Ballot /e-voting.

Shares of Aban Offshore Ltd was last trading in BSE at Rs.410.75, down by Rs.5.35 or 1.29%. The stock hit an intraday high of Rs.424.25 and intraday low of Rs.401.90.

The total traded quantity was 5.93 lakh shares as compared to 2 week average of 7.81 lakh shares.

Source : Equity Bulls

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