Moschip Semiconductor Technology Ltd approves preferential issue

The Board of Directors of Moschip Semiconductor Technology Ltd at its meeting held on August 31, 2015, has approved the appointment of Mr. K Ramachandra Reddy as a Chairman & CEO and Mr. C Dayakar Reddy as a Managing Director of the Company and fixation of their remuneration.

The Board approved the Preferential Issue of 49,78,813 Equity Shares of Rs. 2/- each, Preferential Issue of 3,00,000 Equity Warrants of Rs. 2/- each and Preferential issue of 2,11,86,441 Compulsory Convertible Debentures of Rs. 2/- each.

The issue price of all the above securities will be in accordance with the SEBI (ICDR) Regulations, 2009 and to be specified persons mentioned in the Notice of AGM.

The Board approved the resignation of Mr. Damoder Bethamalla Company Secretary and also approved the appointment of Mr. Suresh Bachalakura as a Company Secretary and Compliance Officer w.e.f. September 01, 2015.

Shares of MOSCHIP SEMICONDUCTOR TECHNOLOGY LTD. was last trading in BSE at Rs.4.7 as compared to the previous close of Rs. 4.58. The total number of shares traded during the day was 39669 in over 62 trades.

The stock hit an intraday high of Rs. 5 and intraday low of 4.26. The net turnover during the day was Rs. 187937.

Source : Equity Bulls

Keywords