Good Luck Steel to consider reissue of forfeited shares on May 30, 2009

Good Luck Steel Tubes Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 30, 2009, inter alia, to consider and approve the Reissue of 52100 Forfeited Equity Shares of the face value of Rs 10/- each to M/s Panafic Industrial Ltd, a strategic Investor from Non promoted group, subject to the condition that if consent of shareholders would have been accorded in the forthcoming General Meeting.

The stock was trading at Rs.170, up by Rs.6.20 or 3.79%. The stock hit an intraday high of Rs.170 and low of Rs.162.10.

The total traded quantity was 25216 compared to 2 week average of 47186.

Source : Equity Bulls

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