Moving Picture EGM approves issue of shares, warrants

Moving Picture Company India Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 11, 2007, inter alia, have approved the following:

1. Further Issue 50,00,000 equity Shares and 29,90,000 warrants pursuant to the provision of Section 81(1A) of the Companies Act, 1956.

2. Increase of Authorized Share Capital from Rs 10/- Crore to Rs 20 Crore.

The stock was trading at Rs.30.95, up by Rs.1.45 or 4.92%. The stock hit an intraday high of Rs.30.95 and low of Rs.30.95. The total traded quantity was 10162 compared to 2 week average of 139527.

Source : Equity Bulls

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