Zodiac Clothing Company Ltd approves preferential issue

The Board of Directors of Zodiac Clothing Company Ltd at their meeting held on 27th June, 2018 have considered and approved the issue of equity shares on Preferential Basis upto Rs.30 Crores and the Issue of Convertible Warrants on Preferential Basis upto Rs.20 Crores to the following Promoters of the Company aggregating upto Rs.50 Crores, subject to the approval of the members of the Company at the ensuing AGM:a) Mr. M. Y. Noorani b) Mr. A. Y. Noorani c) Mr. S. Y. Noorani.

The issue Price of the aforesaid Preferential Issue of equity shares and Convertible Warrants shall be determined on the Relevant Date (i.e. 30th July, 2018) based on the pricing formula as per Regulation 76(1) of SEBI ICDR Regulations.

The board approved proposal for convening the 34th AGM of the Company on Thursday, 30th August, 2018 at Mumbai.

The Board meeting commenced at 4:30 p.m. and concluded at 7.00 p.m.

Shares of ZODIAC CLOTHING CO.LTD. was last trading in BSE at Rs.148 as compared to the previous close of Rs. 155. The total number of shares traded during the day was 1659 in over 24 trades.

The stock hit an intraday high of Rs. 161 and intraday low of 148. The net turnover during the day was Rs. 258142.

Source : Equity Bulls

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