Pentamedia board okays equity issue

MUMBAI: The Pentamedia Graphics board, in its meeting on 12 September 2003, has approved the issue and allotment of equity shares of Rs 10 each at a premium of Rs 1.36 per share.

The board has agreed to convert the share warrants into equity share certificates within 18 months from the date of allotment on preferential basis.

Pentamedia, which has been in the news since 2001 for a merger here and a de-merger there, recently approved the acquisition of Intelivision Ltd by stock swap method.

The scrip has been moving in the Rs 10.30 to Rs 12.00 range in the past week and stripped three per cent on volumes of over 23.5 lakhs in yesterday’s plunging market.