Sharon Bio-Medicine Ltd prices warrants at Rs. 50

The Board of Directors of Sharon Bio-Medicine Ltd have approved pricing of warrants to be issued to promoter Group on preferential basis for which Postal Ballot Notice has been issued on June 10, 2014 and the result of Postal Ballot is scheduled to be announced on July 14, 2014.

The relevant date for the issue of warrants convertible within 18 months date of issue (One warrant convertible into one equity share of the face value of Rs. 2/- each) was June 14, 2014. The minimum price at which warrants can be issued works out to Rs. 45.58 per warrant, as per SEBI regulations.

The Board has decided to issue warrants, subject to approval of members to be obtained by way of Postal Ballot at price of Rs. 50/- per warrant. At the time of conversion of warrants to equity shares, Rs. 2/- will be appropriated towards face value and balance Rs. 48/- to security premium.

Shares of SHARON BIO-MEDICINE LTD. was last trading in BSE at Rs.49.55 as compared to the previous close of Rs. 47.55. The total number of shares traded during the day was 427845 in over 2281 trades.

The stock hit an intraday high of Rs. 50 and intraday low of 48.45. The net turnover during the day was Rs. 21075578.

Source : Equity Bulls

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