Ashok Alco allots 488000 shares

Ashok Alco Chem Ltd has announced that the Board of Directors of the Company at its meeting held on October 15, 2008, has issued and allotted 4,88,000 equity shares of Rs 10/- each at par to SICOM ARC Ltd. in part satisfaction of the terms and conditions of One Time Settlement (OTS) entered into with SICOM Ltd. vide their letter dated April 11, 2008 and in terms of the resolution passed by the Shareholders at the Annual General Meeting held on September 30, 2008.

Source : Equity Bulls

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