Cosmo Ferrites to consider allotment of preference shares on Nov 25, 2009

Cosmo Ferrites Ltd has announced that a Meeting of the Committee of Directors (CoD) of the Company is scheduled to be held on November 25, 2009 to consider, inter alia, the allotment of 1,35,000 10% Cumulative Redeemable Preference Shares of face value of Rs. 100/- each for cash at an issue price of Rs. 100/- each on private placement basis, subject to the approval of Shareholders of the Company in the Extra-Ordinary General Meeting to be held on November 25, 2009.

The Board will also consider redemption of 98,080 Cumulative Redeemable Preference Shares issued by the Company to ICICI on November 27, 1999.

The stock was trading at Rs.9.90, down by Rs.0.29 or 2.85%. The stock hit an intraday high of Rs.10.69 and low of Rs.9.90.

The total traded quantity was 16376 compared to 2 week average of 5397.

Source : Equity Bulls

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