Lyka Labs to issue 10,00,000 shares

Lyka Labs Ltd has announced that the Board of Directors of the Company at its meeting held on June 19, 2007, has decided that the Company will issue upto 10,00,000 Equity Shares to Business Associates / Domestic Body Corporates and Domestic Investors. The Board also decided to issue upto 3,00,000 Equity Share Warrants to Promoters / Business Associates. The pricing of the Equity Share / Warrants will be determined as per the Guidelines on Preferential issue dated August 04, 1994 issued by SEBI (as amended up to date) and authorized the Chairman to take necessary steps in this behalf.

Further the Company has informed that, an Extra Ordinary General Meeting of the Company is being called to consider the passing of the Special resolution under section 81(1A) of the Companies Act, 1956.

The stock closed the day at Rs.41.90, up by Rs.0.75 or 1.82%. The stock hit an intraday high of Rs.43.40 and low of Rs.40.50. The total traded quantity was 633434 compared to 2 week average of 113145.

Source : Equity Bulls

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