Dujodwala Products seeks EGM approval for warrants issue

Dujodwala Products Ltd has announced that the Board of Directors of the Company at its meeting held on November 28, 2009, has decided to hold the Extra Ordinary General Meeting on December 28, 2009 to take the permission from the members of the Company to issue the 25,50,000 warrants convertible into equity shares to the promoters group.

The Board seeks approval for Alteration in the Articles of Association of the Company, inserting Clause 93 of Postal Ballot and to increase the authorized share capital of the Company from Rs. 10,00,00,000/- Crores divided into 100,00,000 equity shares of Rs. 10/- to Rs. 12,00,00,000/- crores divided into 1,20,00,000 equity shares of Rs. 10/- each.

The Board will also seek approval for alteration in the Clause V of the Memorandum of Association of the Company.

The stock was trading at Rs.17.90, down by Rs.0.15 or 0.83%. The stock hit an intraday high of Rs.18.50 and low of Rs.17.60.

The total traded quantity was 2688 compared to 2 week average of 27620.

Source : Equity Bulls

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