Bambino Agro Promoter holding derated by 10%

Bambino Agro Industries Ltd has announced that the Board of Directors of the Company at its meeting held on August 14, 2008, inter alia, has approved derating the promoters holding by 10% i.e. 408757 equity shares of Rs 10/- each of the 15 promoter shareholders where cancelled and simultaneously 2247736 equity shares of Rs 10/- each were allotted to those promoter shareholders at par in terms of the scheme of arrangement approved by the Hon'ble High Court of Andhra Pradesh, Hyderabad on March 06, 2007.

With the derating and allotment of new shares, the promoters shareholding constitute now at 74% of the issued capital. Effect to this decision of the Board will be given effect to shortly by canceling the derated shares and by issuance of additional shares as explained above.

The stock was trading at Rs.28, up by Rs.1.25 or 4.67%. The stock hit an intraday high of Rs.28 and low of Rs.27.

The total traded quantity was 540 compared to 2 week average of 715.

Source : Equity Bulls

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