Alps Industries Board to consider issue of shares and warrants

Alps Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 08, 2007, inter alia, to consider and approve the following proposals:

1. Consideration for recommendation to shareholders for allotment of Equity shares and Zero Coupon Convertible Warrants convertible into equity shares on preferential basis in favour of promoters, persons acting in concert and / or independent entities, subject to necessary approvals from members of the Company and compliance of SEBI Guidelines.

2. Calling of Extra Ordinary General Meeting to consider the necessary approvals under the Companies Act, 1956 for preferential allotment of equity shares and Zero Coupon Convertible Warrants.

The stock closed on Monday at Rs.54.80, up by Rs.0.40 or 0.74%. The stock hit an intraday high of Rs.56.15 and low of Rs.54.45. The total traded quantity was 50136 compared to 2 week average of 108936.

Source : Equity Bulls

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