Vision Cinemas Ltd approves preferential issue

The Board of Directors of Vision Cinemas Ltd at its meeting held on March 21, 2015, have approved the issue of 1,50,00,000 equity shares of Re. 1/- each issued to promoters on preferential basis for consideration other than cash and issue of 1,66,50,000 warrants of Re. 1/- each issued to non-promoters on preferential basis convertible into equity shares.

The Board approved the proposal to call Extra-ordinary General Meeting of the Shareholders / undertaking e-voting for ratification of the above issue.

The Extra-ordinary General Meeting of the Shareholders will be held at 09:00 on April 15, 2015 at Pai Vaibhav, No 19/A H. Siddiah Road, Bangalore 560 002. Shareholders will also be provided with e-voting facility. Details of the same will be elaborated separately in the Notice to the EGM to be circulated to the Shareholders of the Company.

Shares of VISION CINEMAS LTD. was last trading in BSE at Rs.7.3 as compared to the previous close of Rs. 7.09. The total number of shares traded during the day was 49656 in over 97 trades.

The stock hit an intraday high of Rs. 7.49 and intraday low of 6.47. The net turnover during the day was Rs. 361244.

Source : Equity Bulls

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