Fomento Resorts & Hotels Ltd allot 70 lakh preference shares

The Board of Directors of Fomento Resorts & Hotels Ltd at its meeting held on January 10, 2015 have allotted 70,00,000 7.5% Cumulative, Non-convertible, Redeemable Preference shares of Rs. 100 each aggregating to Rs. 70,00,00,000/- to Prime Mineral Exports Pvt Ltd (Promoter Group) for cash at par.

On the aforesaid Preference shares, Rs. 50/- is paid on application and the balance Rs. 50/- per share is payable in two calls of Rs. 25/- each as and when required by the Board of Directors of the Company.

These shares will not be listed on any stock exchange.

Shares of FOMENTO RESORTS & HOTELS LTD. was last trading in BSE at Rs.91.8 as compared to the previous close of Rs. 97.05. The total number of shares traded during the day was 100 in over 6 trades.

The stock hit an intraday high of Rs. 92.05 and intraday low of 91.8. The net turnover during the day was Rs. 9196.

Source : Equity Bulls

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