Vivimed Labs Ltd to allot 20 lakh warrants on preferential basis at Rs. 315

The Board of Directors of Vivimed Labs Ltd at its meeting held on August 05, 2014, have approved the proposal to issue upto (a) 15,00,000 (fifteen Lakhs only) Warrants having option to apply for and be allotted equivalent number of equity shares of the face value of Rs. 10/- each to the Promoters and (b) 500,000 (five lakhs only) Warrants having option to apply for and be allotted equivalent number of equity shares of the face value of Rs. 10/- each to KITARA PIIN 1102 an existing share holder at an issue price of Rs. 315/- (Face Value Rs. 10/- and Premium of Rs. 305/-), on preferential basis, subject to the approval of the shareholders of the Company as per the provisions of the Companies Act, 1956 and Companies Act, 2013, to the extent applicable read with provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("SEBI ICDR Regulations") and such other approvals, consent, etc. as may be required in this regard.

An Extraordinary General Meeting of the Company will be held on September 04, 2014 at BIDAR, KARANATAKA (at the registered office of the Company) for obtaining Shareholders approval for the proposed Preferential Issue of Warrants.

Shares of VIVIMED LABS LTD. was last trading in BSE at Rs.310.75 as compared to the previous close of Rs. 298.3. The total number of shares traded during the day was 41503 in over 1318 trades.

The stock hit an intraday high of Rs. 314.7 and intraday low of 297.8. The net turnover during the day was Rs. 12799140.

Source : Equity Bulls

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