Era Infra Engineering Ltd approves allotment of 149771800 shares

The Board of Directors of Era Infra Engineering Ltd at its meeting held on March 10, 2015, has approved the allotment of 149,771,800 equity shares of face value of Rs. 2/- each at a premium of Rs. 10/- per share upon conversion to the holders' of 17,972,616 Nos. Zero Coupon Compulsory Convertible Debentures (ZCCDs) under category "Promoter & Associates" upon exercise of conversion option by them as per the terms of issue.

The Board appointed Mr. Abhay Kumar Singh as Nominee Director of the Company on behalf of Lenders' of the Company.

The Board also appointed Ms. Chetna Kumar as Non-Executive & Independent Woman Director of the Company in terms of provision of Companies Act, 2013, Rules made thereunder, Clause 49 of Listing Agreement, as amended from time to time & SEBI circular dated September 15, 2014.

Shares of ERA INFRA ENGINEERING LTD. was last trading in BSE at Rs.6.23 as compared to the previous close of Rs. 6.26. The total number of shares traded during the day was 107931 in over 333 trades.

The stock hit an intraday high of Rs. 6.53 and intraday low of 6.15. The net turnover during the day was Rs. 686196.

Source : Equity Bulls

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