DMC Vaults approves issue of 2,50,000 shares at Rs.60

DMC Vaults Ltd has announced that the Board of Directors of the Company at its meeting held on December 02, 2006, has considered, discussed and approved, subject to the approval of members of the Company, to issue 2,50,000 equity shares of Rs 5 each the Company at a premium of Rs 55 per share (total price Rs 60 per shares) to the following persons belonging to the promoters group:

1. Mr Sham Sunder Gupta : 50,000 equity shares

2. M/s Shark Communication Pvt Ltd : 2,00,000 equity shares

Further the Company has informed that, the Board had also decided to call an Extra-Ordinary General Meeting of the members of the Company on December 26, 2006 to take their approval for the aforesaid issue of shares.

Source : Equity Bulls

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