Bala Techno Synthetics to issue shares on preferential basis

Bala Techno Synthetics Ltd has announced that the Board of Directors of the Company at its meeting held on October 27, 2006, has approved to make, subject to all Statutory Compliances / Approvals, Preferential Allotment of Equity Shares, not exceeding Rs 40.00 lakhs in aggregate to the Promoters for funding the working capital and Expansion / Diversification programme of the Company. It has been decided to obtain the approval of the said issue from the Shareholders in the ensuing Annual General Meeting.

Source : Equity Bulls

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