Shree Nath Commercial to issue 50 lakh shares

Shree Nath Commercial & Finance Ltd has announced that the Board of Directors of the Company at its meeting held on October 19, 2009, inter alia, has approved the issue of 50,00,000 Equity shares on Preferential basis, including 8,00,000 equity shares to promoters and promoter group for a price of Rs. 20/- per share, (including a premium of Rs. 10/- per share) aggregating Rs. 10,00,00,000 (Rupees Ten Crore only) subject to the approval of the shareholders of the Company at the Extra Ordinary General Meeting.

The Board of Directors has fixed the Extra Ordinary General Meeting of Shareholders to get the approval for preferential issue on November 18, 2009.

Source : Equity Bulls

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