KG Denim issues 55,55,555 shares at Rs.18

KG Denim Ltd has announced that the Board of Directors of the Company at its meeting held on August 30, 2007, has issued and allotted 55,55,555 equity shares to the preference shareholders at a price of Rs 18 per share (face value Rs 10 per share and a premium of Rs 8 per share) in full redemption of the Preference shares held by them amounting to Rs 1000 lakhs.

The above Board resolution has been passed pursuant to the Special Resolution in the Annual General Meeting held on August 27, 2007.

Source : Equity Bulls

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