Asian Tea to consider raising funds on Nov 16, 2009

Asian Tea & Exports Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 16, 2009, inter alia, to consider fund raising through various means like Issue of Equity Shares / Warrants of the Company on preferential / private placement basis in order to meet its long term working capital requirement and also to fulfill the ongoing and future business commitments / plans of the Company.

The Board will fix date for convening Extra-Ordinary General Meeting of the shareholders of the Company for obtaining their consent for Preferential Issue of shares/warrants.

The stock was trading at Rs.38.25, down by Rs.2 or 4.97%. The stock hit an intraday high of Rs.42.25 and low of Rs.38.25.

The total traded quantity was 78069 compared to 2 week average of 36358.

Source : Equity Bulls

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