Riba Textiles to reissue 2756900 forfeited shares

Riba Textiles Ltd has announced that the Board of Directors of the Company at its meeting held on April 23, 2008, inter alia, has decided to reissue 27,56,900 Forfeited Equity Shares of Rs 10/- each for cash at a premium of Rs 22/- per share aggregating to Rs 8,82,20,800/- to all the existing Equity Shareholders of the Company in the ratio of 1 Equity Share of Rs 10/- each for every 2.5 share of Rs 10/- each held as on the record date, as may be decided by the Board of Directors.

Source : Equity Bulls

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