Nicco Corporation EGM approves issue of 3656307 shares

Nicco Corporation Ltd has announced that the Shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on June 20, 2009, inter alia, has passed the Business of preferential issue by Special Resolution.

The shareholders authorised the Board of Directors to issue, by way of Preferential Allotment, up to an aggregate amount of Rs 2.00 crores, 36,56,307 Equity Shares of nominal value of Rs 2/- each of the Company @ not less than Rs 5.47 per Equity Share (comprising par value of Rs 2/- per share and a premium of Rs 3.47 per share) to the Nicco Restructuring Employees' Trust Fund.

The resolution was passed with requisite majority.

Source : Equity Bulls

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