Monnet Industries Ltd allots Preference Shares

Consequent to requisite resolutions having been passed by the shareholders in the extra-ordinary General Meeting held on March 17, 2014, whereby the Capital Clause of the Memorandum of Association was amended to reclassify the share capital and authority u/s 81 (1A) was obtained for allotment of preference shares, the duly authorized Committee of the Board of Directors of Monnet Industries Ltd, in its meeting held on March 31, 2014, has made allotment of 1500000 Cumulative Redeemable Preference Shares (CRPS) of Rs. 100/- each on Private Placement basis.

The Preference shares are Not Convertible.

Source : Equity Bulls

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