Mercator Lines Committee allots 28500000 warrants

Mercator Lines Ltd has announced that the Committee of Board of Directors (CoD) of the Company at its meeting held October 15, 2007, inter alia, has approved issue of 2,85,00,000 warrants to Mrs. Archana Harishkumar Mittal, the promoter of the Company on preferential basis, having face value of Rs 5/85 per warrant i.e. 10% of Rs 58/50 being price at which shares will be allotted on exercise of option in accordance with SEBI Guidelines for preferential issue.

Source : Equity Bulls

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