CNI Research Ltd approves issue of warrants, shares

The Board of Directors of CNI Research Ltd at its meeting held on June 11, 2014, approved the proposal to issue and allot 1,08,00,000 Warrants convertible into equity shares each on preferential basis to promoters in terms of provisions of section 62(1)(C) of the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Board approved proposal to issue and allot 3,92,00,000 equity shares of each on preferential basis to Non - promoters in terms of provisions of section 62(1)(c) of the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Board approved the increase in the Authorised Share Capital and alteration of Capital clause in Memorandum of Association and Articles of Association of the Company pursuant to the provisions of section 13(1) and 14(1), read with section 62(1)(c), 64 and other applicable provisions, if any, of the Companies Act, 2013.

The Board also approved the proposal to hold the Extra ordinary General meeting of the Company on July 08, 2014, at the registered office of the company in order to seek the approval of members for the above.

Shares of CNI RESEARCH LTD. was last trading in BSE at Rs.2.35 as compared to the previous close of Rs. 2.24. The total number of shares traded during the day was 492 in over 4 trades.

The stock hit an intraday high of Rs. 2.35 and intraday low of 2.35. The net turnover during the day was Rs. 1156.

Source : Equity Bulls

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