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Thursday, Nov 13, 2003

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Transgene Bio trading to be suspended

Our Bureau

Mumbai , Nov. 12

THE Bombay Stock Exchange (BSE) has suspended trading in the securities of Transgene Biotek from November 17, until the pending investor complaints are resolved by the company.

The exchange decision comes at a time when the company's board (in July) approved allotment of 10 lakh equity shares at Rs 60 per share along with 10 lakh convertible warrants of Rs 10 each convertible into one equity share at Rs 125 per share at the end of one year from the date of allotment.

These shares were allotted to some FIIs.

This year, the stock price of the company has run-up from below Rs 10 level to current market price of Rs 82 on the BSE.

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