ERI extends 2012 Warrants cut-off date

Monday, 9 January 2012 00:00 - - {{hitsCtrl.values.hits}}

Board of Directors of Environmental Resources Investment Plc has resolved to extend the cut off date of 2012 Warrants.

The move made at the Board meeting on Thursday had been in the best interest of the Company and in view of ensuring full exercising of the Warrants.

Accordingly it had been resolved to extend the cut-off date of the 2012 Warrants from 03 February 2012 to 06 September 2013 and to extend the expiration date of the 2012 Warrants from 04 February 2012 to 26 September 2013.

The move is subject to shareholder approval at an Extraordinary General Meeting scheduled to be held on 01 February 2012.

On Friday ERI saw 1.6 million of its Warrants (0002) traded for Rs. 24 million. It peaked to a high of Rs. 16.20 and a low of Rs. 14 before closing at Rs. 15, up by Rs. 1.70 or 13% thereby topping the list of percentagewise gainers.

Upon passing the resolution, the holders of 2012 Warrants in the register of 2012 Warrantholders at end of trading on 6 September 2013 who wish to exercise their said Warrants are permitted to do so from 7 September 2013 up to 26 September 2013 and the Warrants will trade on the CSE up to and including 6 September 2013.