Jagson Airlines Board approves allotment of warrants

Jagson Airlines Ltd has announced that the Board of Directors of the Company at its meeting held on April 28, 2007, has accorded for the issue and allotment of upto 9521780 Convertible Share Warrant of Rs 10/- each at a price not less than Rs 20.11 per share warrant (inclusive of Premium of Rs 10.11) aggregating to Rs 19,14,82,996/- on Preferential Basis to the Promoter and Non-Promoter on such terms and conditions as may be decided or deemed to appropriate by the Board of Directors of the Company (the "Board" which shall be deemed to include any duly authorized committee thereof) at the time of issue and allotment subject to the overall Guideline Governing such issue.

The stock was trading at Rs.19.40, up by Rs.1.20 or 6.59%. The stock hit an intraday high of Rs.19.45 and low of Rs.18.60. The total traded quantity was 1350 compared to 2 week average of 49404.

Source : Equity Bulls

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