Sibar Auto Parts Ltd to consider conversion of unsecured loan into equity shares

A meeting of the Board of Directors of Sibar Auto Parts Ltd will be held on December 14, 2013, to consider the consider conversion of interest free unsecured loan to the extent of Rs. 4.00 crores into equity shares of Rs. 10 each at par on preferential basis to the persons subject to the approval of SEBI and other regulatory authorities and members approval.

The Board will also approve the Draft Notice convening Extra-Ordinary Meeting for getting approval of shareholders for Preferential Allotment and fix the date and venue of EGM.

Shares of Sibar Auto Parts Ltd was last trading BSE at Rs.4.76. The stock hit an intraday high of Rs.4.76 and intraday low of Rs.4.76.

The total traded quantity was 300 shares as compared to 2 week average of 300 shares.

Source : Equity Bulls

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