Ecoboard Industries to allot 750000 shares

Ecoboard Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 19, 2008, inter alia, has unanimously passed the resolution to issue and allot 750,000 (seven lacs Fifty Thousand) fully paid equity shares of Rs 10 each to the following promoter group at a price of Rs 21/- (Rs Twenty one) i.e. at a premium of Rs 11 (Rs Eleven) per share, the Company do allot the said 750,000 equity shares to the following promoter applicants who have deposited the full amount of consideration of Rs 1,57,50,000 (Rs One Crore Fifty Seven lacs Fifty thousand) with the Company.

Mr. G R K Raju: 250,000 No. of shares allotted, Mr. P Satyanarayan Raju: 250,000 No. of shares allotted, Mr. Srinivas Raju P: 250,000 No. of shares allotted.

Resolved further that the said 750,000 share so issued and allotted shall remain under lock in for a period of 3 years from date of this allotment upto June 18, 2011, as per SEBI DIP guidelines.

Source : Equity Bulls

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