Eastern Treads to issue Preference Shares

Eastern Treads Ltd has announced that the Board of Directors of the Company at its meeting held on February 09, 2009, inter alia, has decided to approve the Preference Share Certificate.

The Board decided to issue and allot 4,00,000 (Four Lakhs) Redeemable Preference Shares of Rs 100/- (Rupees Hundred) each to Mr. M E Meeran and 6,00,000 (Six Lakhs) Redeemable Preference Shares of Rs 100/- (Rupees Hundred) Mr. Navas M Meeran, (total 10,00,000 (Ten Lakhs) Redeemable Preference Shares of Rs 100/- (Rupees Hundred) each) by conversion of their loan and / or interest on such loans into Redeemable Preference Shares of the Company.

The Board has decided to open Bank account with Federal Bank, Kothamangalam and decided to close the Bank Account opened with Canara Bank, Kothamangalam.

Source : Equity Bulls

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