LKP Finance to consider allotment of CCD on Sep 05, 2009

LKP Finance Ltd has announced that a meeting of the Board of Directors of the Company will be held on September 05, 2009, inter alia, to consider the issue and allotment on a preferential basis of upto 7,27,500 (Seven Lac twenty Seven Thousand Five Hundred only) 11% Compulsorily Convertible Debenture (CCD) of Rs. 120/- each fully paid-up, each CCD to be converted into one equity share of the Company of Rs. 10/- each, at a premium of Rs. 110/- per share, within a period not earlier than 6 (Six) months but not exceeding 18 (Eighteen) months from the date of issue of such CCD, to Agrud Capital Pte. Ltd, Singapore ("Strategic Investor"), in terms of the Special Resolution passed by the members on August 27, 2009 under Section 81(1A) of Companies Act, 1956.

The stock closed the day at Rs.109.35, up by Rs.10.60 or 10.73%. The stock hit an intraday high of Rs.114 and low of Rs.95.

The total traded quantity was 34620 compared to 2 week average of 11977.

Source : Equity Bulls

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