Uttam Sugar allots 800000 6.5% Cumulative Redeemable Preference Shares

Uttam Sugar Mills Ltd has announced that the Preference Share Allotment Committee at its meeting held November 12, 2009 have issued & allotted 8,00,000 6.5% Redeemable Cumulative Preference Shares of Rs. 100/- each for cash at par totaling amount of Rs. 8,00,00,000/- to the entities forming part of Promoter group and others. Consequently, with effect from November 12, 2009, the Issued and Subscribed Preference Share Capital of the Company stands increased to Rs. 29,35,00,000/- divided into 29,35,000 Redeemable Cumulative Preference Shares of Rs. 100/- each.

The stock closed the day at Rs.61, up by Rs.1.25 or 2.09%. The stock hit an intraday high of Rs.61.70 and low of Rs.60.

The total traded quantity was 8871 compared to 2 week average of 7595.

Source : Equity Bulls

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