Shiv-Vani Oil & Gas Exploration Services Ltd approves conversion of overdue interest to equity shares

The Board of Directors of Shiv-Vani Oil & Gas Exploration Services Ltd at its meeting held on January 29, 2015, has decided the conversion of overdue interest of lenders for the period October to December, 2014, for an amount not exceeding Rs. 75 Crores, into equity shares of the Company at Rs. 15.95 per equity share (Rs 10/- + Rs 5.95) as per CDR package.

The Board approved convening of postal ballot for taking approval of the shareholders on the item no (a) and for change of the name of the Company from SHIV-VANI OIL & GAS EXPLORATION SERVICES LTD. TO SVOGL Oil, Gas and Energy Ltd.

Shares of SHIV-VANI OIL & GAS EXPLORATION SERVICES LTD. was last trading in BSE at Rs.9.63 as compared to the previous close of Rs. 9.18. The total number of shares traded during the day was 37795 in over 257 trades.

The stock hit an intraday high of Rs. 9.63 and intraday low of 8.9. The net turnover during the day was Rs. 348703.

Source : Equity Bulls

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