Speciality Papers approves issue of securities, bonus shares

Speciality Papers Ltd has announced that the Board of Directors of the Company at its meeting held on January 05, 2008, inter alia, has considered and approved the issuance of 10,00,000 equity shares of the Company / warrants on preferential basis, with the pricing fixed as per SEBI guidelines.

The Board also approved the plan of doing a bonus, but to arrive at the number of shares to be given in the form of bonus, the Board has decided to utilize the expertise of M/s. Firstcall India Equity Advisors Pvt Ltd, Mumbai to advise the Company on number of shares proposed to be issued on the basis of bonus issuance.

The stock was trading at Rs.96.65, up by Rs.4.60 or 5%. The stock hit an intraday high of Rs.96.65 and low of Rs.96.65.

The total traded quantity was 21339 compared to 2 week average of 35617.

Source : Equity Bulls

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