Avon Lifesciences approves conversion of Warrants into Equity

As per the terms of 1,05,00,000 (One Crore Five Lacs) Warrants issued by the Company on August 12, 2015 on preferential basis, the Allotment Committee of the Board of Directors of Avon Lifesciences Ltd at the meeting held on April 11, 2016, has upon receipt of balance of 75% consideration aggregating to Rs. 19,50,000/- (Rupees Nineteen Lacs Fifty Thousand only) has approved allotment of 1,00,000 (One Lac) Equity Shares upon conversion of equivalent number of warrants at an issue price of Rs. 26 per share.

Shares of Avon Lifesciences Ltd. was last trading in BSE at Rs.16.65 as compared to the previous close of Rs. 18.45. The total number of shares traded during the day was 14651 in over 44 trades.

The stock hit an intraday high of Rs. 16.65 and intraday low of 16.65. The net turnover during the day was Rs. 243939.

Source : Equity Bulls

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