MT Educare Ltd approves QIP issue

The Board of Directors of MT Educare Ltd at its meeting held on January 20, 2016, have transacted and approved the issue of Securities under Qualified Institutions Placement, amendment in Capital Clause V of the Memorandum of Association of the Company consequent to increase in the authorised share capital, subject to consent of the shareholders.

The Board approved proposal to introduce and implement MT Educare Employee Stock Option Scheme - 2016 and to extend the benefits of MT Educare Employee Stock Option Scheme - 2016 to the employees of Subsidiary(ies) / Associate company(ies).

Further, the Board of Directors have decided to call and convene an Extra Ordinary General Meeting (EGM) of the shareholders of the Company on February 17, 2016 at 11.30 a.m at Jainam Banquet Hall, Jainam Arcade, BTM Compound, 100 L.B.S Road, Bhandup (West), Mumbai - 400078 for the purpose of seeking approval on the business mentioned at serial no. (a) to (d) above.

The Notice of EGM referred above shall be separately forwarded.

Shares of MT EDUCARE LTD. was last trading in BSE at Rs.153.7 as compared to the previous close of Rs. 153.4. The total number of shares traded during the day was 102197 in over 1809 trades.

The stock hit an intraday high of Rs. 162 and intraday low of 152.1. The net turnover during the day was Rs. 16081549.

Source : Equity Bulls

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