Educomp Solutions Ltd approves issue of shares to lenders

The Board of Directors of Educomp Solutions Ltd at its meeting held on January 13, 2015, has considered and approved the issuance of Equity Shares to the Lenders, as per SEBI (ICDR) Regulations, 2009, on conversion of Funded Interest Term Loan.

The Board approved proposal to initiate the process for merging M/s. Edu Smart Services Private Limited with the Company, subject to necessary approval as required.

The postal ballot under Section 110 of the Companies Act, 2013 and other applicable provisions, if any and appointment of the Scrutinizer for the postal ballot, tTo approve the Issuance and allotment of Equity Shares to the Lenders, as per SEBI (ICDR) Regulations, 2009, on conversion of Funded Interest Term Loan and to approve the increase in the remuneration of Mr. V. K. Dandona, Whole Time Director of the Company.

Shares of EDUCOMP SOLUTIONS LTD. was last trading in BSE at Rs.29.55 as compared to the previous close of Rs. 28.7. The total number of shares traded during the day was 488152 in over 4888 trades.

The stock hit an intraday high of Rs. 30.7 and intraday low of 27.7. The net turnover during the day was Rs. 14192698.

Source : Equity Bulls

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