AIA Engineering allots 336430 shares

AIA Engineering Ltd has announced that the Board of Directors of the Company at its meeting held on June 25, 2009 have consented to the allotment of 3,36,430 (Three Lacs Thirty Six Thousand Four Hundred Thirty only) Equity Shares of Rs 2/- each fully paid-up (referred to as "New Equity Shares") to the shareholders of Reclamation Welding Ltd (Reclamation) whose names appeared in the Register of Members of erstwhile Reclamation as on the Record Date i.e. "June 25, 2009" in proportion to their holding in Reclamation. The New Equity Shares shall rank pari passu in all respects with and carry the same rights as the existing equity shares of the Company as mentioned in the Scheme of Amalgamation (Scheme).

Further the Company has informed that pursuant to the Scheme 1,57,000 Equity Shares of Reclamation held by the Company has been cancelled without any further acts or deeds.

The stock was trading at Rs.226, down by Rs.1.25 or 0.55%. The stock hit an intraday high of Rs.232 and low of Rs.221.10.

The total traded quantity was 10583 compared to 2 week average of 80313.

Source : Equity Bulls

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