Suryavanshi Spinning EGM approves merger of Suryavanshi Textiles Ltd

The members of Suryavanshi Spinning Mills Ltd at the Extra Ordinary General Meeting (EGM) of the Company held on June 14, 2007, have unanimously approved the following:

1. Amalgamation of Suryavanshi Textiles Ltd, a garment manufacturing Company with the Company subject to such modifications as may be stipulated by the Hon'ble Board for Industrial and Financial Reconstruction with appointed date as April 01, 2007.

2. Authorised Board of Directors of the Company to issue and allot 41,62,536 Equity Shares of Rs 10/- each (fully paid-up) in proportion of 54 Equity Shares of Rs 10/- each of the Company for every 100 Equity Shares of Rs 10/- each of Suryavanshi Textiles Ltd.

The stock closed the day at Rs.42.55, up by Rs.0.95 or 2.28%. The stock hit an intraday high of Rs.49.90 and low of Rs.41.70. The total traded quantity was 8406 compared to 2 week average of 6525.

Source : Equity Bulls

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