Astec Lifesciences Ltd to consider preferential issue on Dec 19, 2014

A meeting of the Board of Directors of Astec Lifesciences Ltd will be held on December 19, 2014, to consider and approve the issue and allotment of Equity shares on Preferential basis of Rs.10,00,00,000/- (Rupees Ten Crores Only) including premium thereon, to select persons/entities on such terms and conditions and at such price not lower than the price to be determined by SEBI (ICDR] Regulations, subject to the approval of members.

The Board will approve the borrowing limits of the Company in compliance with the provisions of Section 180(1)(c) of the Companies Act, 2013.

The Board will approve creation of charges on the assets of the Company in compliance with the provisions of Section 180(1)(a) of the Companies Act, 2013.

The Board will consider proposal to grant Employee Stock Options to the employees of subsidiary companies of Astec LifeSciences Limited in compliance with terms and conditions of ESOP Scheme 2012, subject to the approval of members.

The Board will also authorize Director of the Company or Company Secretary to obtain the approval of members by way of conducting Postal ballot for item nos. 1, 2, 3 & 4 above.

Shares of ASTEC LIFESCIENCES LIMITED was last trading in BSE at Rs.107.85 as compared to the previous close of Rs. 108.8. The total number of shares traded during the day was 70356 in over 1747 trades.

The stock hit an intraday high of Rs. 110.65 and intraday low of 105. The net turnover during the day was Rs. 7572697.

Source : Equity Bulls

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