Ashco Niulab allots 1.92 crore equity shares

Ashco Niulab Industries Ltd has announced that that pursuant to order passed by High Court of Judicature at Bombay approving scheme of arrangement / amalgamation with Niulab Equipment Company Pvt. Ltd (Transferor Company)., the Board of Directors of the Company at its meeting held on July 03, 2009, have allotted 1,92,00,000 equity shares to shareholders of Niulab Equipment Company Pvt. Ltd (Transferor Company) in the ratio of 1:2 (i.e., 2 equity shares of transferee Company issued to share holders of transferor Company against 1 equity share held by them in the transferor Company).

The Board of Directors have allotted the equity shares to those shareholders of Niulab Equipment Company Pvt. Ltd (Transferor Company) whose names appeared in the register of members as on date of passing of order by High Court of Judicature at Bombay i.e. March 24, 2009.

The stock closed on Friday at Rs.7.50, up by Rs.0.10 or 1.35%. The stock hit an intraday high of Rs.7.70 and low of Rs.7.20.

The total traded quantity was 2430 compared to 2 week average of 5210.

Source : Equity Bulls

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