Pacific Cotspin allots 15,00,000 shares on preferential basis

Pacific Cotspin Ltd has announced that the Board of Directors of the Company at its meeting held on April 18, 2007 has allotted 15,00,000 Equity Shares of Rs 10/- each at par on a Preferential Basis to the "Promoters" of the Company as under:

1. Anita Mehra: 7,50,000 No of Shares allotted
2. Sarda Mehra: 7,50,000 No of Shares allotted

The above shares shall rank Pari Passu in all respects and shall be locked-in as prescribed under the SEBI Guidelines for Preferential issues.

The stock closed the day at Rs.7.25, down by Re.0.16 or 2.16%. The stock hit an intraday high of Rs.7.50 and low of Rs.7.25. The total traded quantity was 19850 compared to 2 week average of 43040.

Source : Equity Bulls

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