GTN Industries to consider preferential issue on Nov 26, 2009

GTN Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 26, 2009, inter alia, to consider and recommend for preferential issue of 60,00,000 Equity Shares of Rs. 10 each at a premium of Rs. 2.50 per share, to promoters on preferential basis as per the mandate in approved CDR Scheme by the CDR Cell, Mumbai subject to the approval of shareholders at the EGM and also subject to the Exemption Order under Regulation-11(2) of the SEBI (SAST) Regulations, 1997.

The Board will approve the draft notice to convey Extra Ordinary General meeting of Equity share holders to pass necessary resolutions for the issue of Equity Shares to promoters on preferential basis.

The stock was trading at Rs.11, down by Rs.0.33 or 2.91%. The stock hit an intraday high of Rs.11.50 and low of Rs.10.90.

The total traded quantity was 8014 compared to 2 week average of 6146.

Source : Equity Bulls

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