Medicamen Biotech Ltd approves preferential issue

The Board of Directors of Medicamen Biotech Ltd in its meeting held today, which commenced at 3.00 P.M. and concluded at 4.30 P.M, has approves preferential issue subject to approval of the shareholders of the Company.

The Board approved the proposal to issue & allot 306000 Warrants, convertible into Equity Shares of the Company at a price of Rs. 543/- per warrant (including a premium of Rs.433/- each), in accordance with the SEBI (ICDR) Regulations, 2009 on Preferential Allotment basis to a promoter group and non promoter group / Investors.

The Board also approved calling of an Extraordinary General Meeting, of the Company in relation to the Preferential Issue as aforesaid on 17th July, 2017.

Shares of MEDICAMEN BIOTECH LTD. was last trading in BSE at Rs.572 as compared to the previous close of Rs. 571.3. The total number of shares traded during the day was 4928 in over 78 trades.

The stock hit an intraday high of Rs. 575.8 and intraday low of 561. The net turnover during the day was Rs. 2820319.

Source : Equity Bulls

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