Rishi Laser to consider preferential issue on Sep 14, 2009

Rishi Laser Ltd has now announced with reference to the earlier annoucement dated June 29, 2009 regarding, in the meeting of the Board of Directors of the Company held on June 29, 2009, the Board members approved the issue of 6,00,000 Equity Shares and 10,00,000 warrants on preferential basis, that it is proposed to issue only Equity Shares and not to issue any Warrants.

Therefore, the resolution passed in the Board Meeting held on June 29, 2009 stands cancelled. A meeting of the Board of Directors is scheduled on September 14, 2009 to consider and approve issue of Equity Shares on preferential basis.

The stock closed the day at Rs.36.15, down by Rs.0.25 or 0.69%. The stock hit an intraday high of Rs.37 and low of Rs.35.20.

The total traded quantity was 22500 compared to 2 week average of 53280.

Source : Equity Bulls

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