Gujarat NRE Coke seeks approval for issue of "A" equity shares

Gujarat NRE Coke Ltd has announced that the Board of Directors of the Company at its meeting held on December 01, 2008, inter alia, pursuant to the approval of members, has decided to approach SEBI, Stock Exchanges and other relevant authorities for necessary approvals as required, and subject to such approvals, decided to offer "A" Equity Shares of the Company of Rs 10/- each (i.e. Equity Shares with Differential Voting Rights carrying 100 voting rights per "A" Equity Share but pari passu in all other respect with the existing Equity Shares) on rights basis to the shareholders of the Company in the ratio of 1 (one) "A" Equity Share for every 450 (Four hundred fifty) Equity shares at such price including such premium, as may be decided before the commencement of the rights offer.

The stock closed the day at Rs.21.85, down by Rs.0.15 or 0.68%. The stock hit an intraday high of Rs.22.80 and low of Rs.21.75.

The total traded quantity was 615497 compared to 2 week average of 874129.

Source : Equity Bulls

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