RPG Cables to allot shares as per terms with SASF

RPG Cables Ltd has announced that the Board of Directors of the Company at its meeting held on May 31, 2007, inter alia, as per the terms of one-time settlement with Stressed Assets stabilization Fund (SASF), the Board has approved issue of equity shares for an amount not exceeding Rs 367 Lacs under SEBI Preferential Issue Guidelines, subject to approval of shareholders at the ensuing Annual General Meeting. The Issue of equity shares will be in full and final settlement of SASF dues from the Company.

The stock was trading at Rs.54.40, down by Rs.1.35 or 2.42%. The stock hit an intraday high of Rs.58.50 and low of Rs.53. The total traded quantity was 119399 compared to 2 week average of 59562.

Source : Equity Bulls

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