Lloyds Steel to consider warrants issue on Nov 30, 2009

Lloyds Steel Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 30, 2009, inter alia, to consider and approve the issue of Warrants on preferential basis to promoters Group in accordance with SEBI and other applicable guidelines and subject to necessary approvals as may be required and to Increase Authorised share capital of the Company and consequential amendment to Memorandum & Articles of Association of the Company.

The Board will also approve forfeiture of shares remaining unpaid.

The stock closed the day at Rs.8.79, down by Rs.0.31 or 3.41%. The stock hit an intraday high of Rs.9.13 and low of Rs.8.70.

The total traded quantity was 137664 compared to 2 week average of 194152.

Source : Equity Bulls

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