Victory Projects suspends Preferential Issue

Victory Projects Ltd has announced with reference to Preferential allotment of Equity Shares to Investor(s) as per EGM resolution dated January 28, 2009, that the Company has received an amount in excess of 60% of the amount due with respect to the intended amount of 8 Lakh shares at a value of Rs 15 per share. Since the entire 100% of the amount has not been received and the investors requires more time, the proposed preferential allotment has been suspended.

In this regard, a meeting of the Board of Directors of the Company will be held on February 16, 2009, inter alia, to deliberate on conducting the next EGM in order to seek fresh approval from the shareholders as per applicable DIP Guidelines.

The stock closed the day at Rs.11.19, up by Rs.0.53 or 4.97%. The stock hit an intraday high of Rs.11.19 and low of Rs.10.50.

The total traded quantity was 1753 compared to 2 week average of 5206.

Source : Equity Bulls

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