Expo Gas Containers seeks EGM approval to reduce capital

Expo Gas Containers Ltd has announced that the Board of Directors of the Company at its meeting held on May 18, 2009, inter alia, has decided that the paid up Share Capital of the Company be reduced from Rs 7,78,64,000 divided into 77,86,400 Equity Shares of Rs 10 each fully paid up to Rs 3,11,45,600/- divided into 77,86,400 equity shares of Rs 4/- each fully paid up by canceling the capital to the extent of Rs 6/- per Equity share.

The Company has decided to have an Extra Ordinary General Meeting on June 11, 2009 to pass the special resolution as stated above pursuant Section 78 and Section 100 to 104.

The stock closed the day at Rs.7.99, up by Rs.0.38 or 4.99%. The stock hit an intraday high of Rs.7.99 and low of Rs.7.24.

The total traded quantity was 4464 compared to 2 week average of 17279.

Source : Equity Bulls

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