Lok Housing to allot shares on merger of Lok Shelters Ltd

Lok Housing & Constructions Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 27, 2007, to approve and allot 1,92,27,791 fully paid-up Equity Shares of Lok Housing And Constructions Ltd to the Shareholder(s) of Lok Shelters Ltd., pursuant to the Merger of Lok Shelters Ltd with the Company. The Scheme of Amalgamation has been approved by Hon'ble Bombay High Court.

The stock closed the day at Rs.200.75, down by Rs.16.35 or 7.53%. The stock hit an intraday high of Rs.228 and low of Rs.196.05.

The total traded quantity was 343669 compared to 2 week average of 308744.

Source : Equity Bulls

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