Suyog Telematics Ltd approves issue of 20 lakh shares

The Board of Directors of Suyog Telematics Ltd at its meeting held on January 12, 2015, has approved, subject to the shareholders and other necessary approvals and in compliance with the SEBI (ICDR) Regulations, 2009 and Sections 42 & 62 and all other applicable provisions, if any, of the Companies Act, 2013 and Rules made thereunder, the issue of upto 20,00,000 Equity Shares of Rs. 10/- each of the Company to Nariman Mercantile Private Limited, for cash, at a price of Rs. 45/- per Equity Share (including a premium of Rs. 35/- per Equity Share) on Preferential basis.

Further, it was decided to convene an Extraordinary General Meeting to obtain the approval of Shareholders in this regard.

Source : Equity Bulls

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