Midas Pharmasec to consider merger, reduction of share capital

Midas Pharmasec Ltd has announced that the Board of Directors of the Company at its meeting held on April 16, 2007, inter alia, has considered and approved the following:

1. Amalgamation of Yew investments Pvt Ltd with the Company with effect from April 01, 2007 subject to approval of various authorities.

2. Reduction of share capital of the Company subject to approval of various authorities.

The stock closed the day at Rs.12.45, down by Re.0.65 or 4.96%. The stock hit an intraday high of Rs.12.45 and low of Rs.12.45. The total traded quantity was 9372 compared to 2 week average of 10774.

Source : Equity Bulls

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