Cubical Financial Services approves issue of 1 crore shares

Cubical Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on May 30, 2009 has discussed and approved the issue of upto 1,00,00,000 (One Crores only) Equity Shares of Rs 10 each of the Company to several strategic investors on a preferential allotment basis. The decision of Board is, however, subject to the approval of the members of the Company, for which an Extra-Ordinary General Meeting is scheduled to be called and held on June 24, 2009. The Extra-Ordinary General Meeting of members of the Company shall also decide upon to increase the authorized share capital of the company from Rs 3,51,00,000/ to Rs 13,51,00,000/- divided into Equity Shares of Rs 10 each.

Source : Equity Bulls

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