Premco Global Ltd seeks EGM nod for preferential issue

The Board of Directors of Premco Global Ltd at its meeting held on November 30, 2013 has considered and approved, the proposal to increase in Authorised Share Capital of the Company from Rs. 4.00 Crores to Rs. 6.00 Crores.

The Board has approved proposal to issue of 1,50,000 equity shares on preferential basis to the promoters of the Company and borrowing powers in excess of its Paid Up Capital and Frees Reserves up t Rs. 50.00 Crores.

The Board also approved the revision in Remuneration to Managing Director and Executive Directors of the Company.

All the above proposals are subject to the approval by Members of the Company in General Meeting and such approvals from statutory authorities. An Extra Ordinary General Meeting of Members of the Company will be convened on December 30, 2013.

Shares of Premco Global was last trading BSE at Rs.36, up by Rs.1 or 2.86%. The stock hit an intraday high of Rs.36.50 and intraday low of Rs.36.

The total traded quantity was 755 shares as compared to 2 week average of 1897 shares.

Source : Equity Bulls

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