iStreet Network Ltd to issue shares, warrants on preferential basis

The Board of Directors of iStreet Network Ltd at its meeting held on October 20, 2014, approved the issue of 150,000 Equity Shares on preferential basis to Investors at a price of Rs. 20/- per share in accordance with the provisions of Chapter VII of SEBI (ICDR) Regulations, 2009.

The Board also approved issue of 765,000 Equity Warrants on preferential basis to Investors and 3,10,000 Equity Warrants to Promoters at a price of Rs. 20/- per warrant, in accordance with the provisions of Chapter VII of SEBI (ICDR) Regulations, 2009.

The Board approved convening Extra Ordinary General Meeting on November 19, 2014 for the purpose.

The Board members also noted the completion of transaction for disposal of underperforming asset of pharmaceutical business on October 18, 2014. The Company registered the transfer and handed over the assets to the buyer.

Shares of iStreet Network Limited was last trading in BSE at Rs.21.44 as compared to the previous close of Rs. 20.42. The total number of shares traded during the day was 7132 in over 38 trades.

The stock hit an intraday high of Rs. 21.44 and intraday low of 19.4. The net turnover during the day was Rs. 147521.

Source : Equity Bulls

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