Shaily Engineering approves allotment of 1499820 shares

Shaily Engineering Plastics Ltd has announced that the Board of Directors of the Company at its meeting held on January 05, 2009, inter alia, has considered and approved the allotment of 1499820 equity shares at a price of Rs 56/- per share (including premium of Rs 46/- per share) to Motika Ltd on conversion of 1499820 7% Participatory Cumulative Convertible Preference Shares of Rs 56/- each.

Source : Equity Bulls

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