NHC Foods Ltd converts OCRPS to shares

The holders of NHC Foods Ltd's Optionally Convertible Redeemable Preference Shares (OCRPS) have exercised their right of conversion of OCRPS into equity shares and accordingly the Board of Directors at their meeting held on February 16, 2015 have allotted 35,96,400 Equity Shares of Rs. 10/- each fully paid up on account of conversion of 35,96,400 OCRPS of Rs. 10/- each (i.e. the ratio of 1 Equity Share for every 1 OCRPS held).

The conversion of OCRPS into Equity shares has been done on the terms and conditions as mentioned in the Scheme of Amalgamation between NHC Industries Private Limited and NHC Foods Limited (formerly known as Midpoint Software & Electro Systems Limited) duly approved by the Hon'ble High Court of Bombay vide its order dated August 13, 2010.

Shares of NHC FOODS LTD. was last trading in BSE at Rs.18.25 as compared to the previous close of Rs. 18.35. The total number of shares traded during the day was 6018 in over 98 trades.

The stock hit an intraday high of Rs. 19 and intraday low of 18. The net turnover during the day was Rs. 110349.

Source : Equity Bulls

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