Shares of the Spice Mobility rose 20 per cent on Monday after the company announced that its promoter are planning to voluntarily delist the equity shares of the Company from the National Stock Exchange of India Ltd and BSE Limited.
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" A meeting of the Board of Directors of the Company will be held on January 02, 2015, inter alia, to consider the proposal received from 'Smart Ventures Private Limited', the Promoter of the Company, to voluntarily delist the equity shares of the Company from the National Stock Exchange of India Ltd and BSE Limited i.e. both recognized stock exchanges, where the equity shares of the Company are presently listed in accordance with the provisions of SEBI (Delisting of Equity Shares) Regulations, 2009 and other applicable laws, if any" the company said in the filing.
As per the Company's Code of Conduct for Prevention of Insider Trading, the trading window for dealing in the securities of the Company will remain closed for the Directors and Designated Employees of the Company covered under the said Code from December 27, 2014 to January 03, 2015, added further.
At 11.30 am IST, the shares of the company was seen at Rs 26.40, higher by 4.4 points or 20 per cent on the Bombay Stock Exchange.