Tuticorin Alkali Chemicals and Fertilizers Ltd approves proposal to convert loan, advances, preference shares

The 'Preferential Issue Capital Committee' meeting held today (05.03.2018), the members of Tuticorin Alkali Chemicals and Fertilizers Ltd approved the proposal to convert all the Unsecured Loan, Advances and Preference Shares in to Equity shares to Promoter and their group Companies aggregating to Rs.107.04 crores to 10,70,40,000 No.of shares of Rs10.00 each, subject to the approval of SEBI and other required approvals.

The committee approved proposal to increase the Authorised share Capital of the Company from Rs. 39 crores to Rs.122 crores.

The committee also approved proposal to convene the Extra-ordinary General Meeting of the Company on Tuesday,10th April, 2018 at 10.35 AM at 'Rajah Annamalai Hall', Esplanade, Chennai 600 108.

Shares of TUTICORIN ALKALI CHEMICALS & FERTILISERS LTD. was last trading in BSE at Rs.12.3 as compared to the previous close of Rs. 11.72. The total number of shares traded during the day was 2018 in over 9 trades.

The stock hit an intraday high of Rs. 12.3 and intraday low of 11.22. The net turnover during the day was Rs. 24727.

Source : Equity Bulls

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