GIVO approves conversion of ECB loan to equity shares

GIVO Ltd has announced that the Board of Directors of the Company at its meeting held on December 15, 2009, inter alia, has approved full conversion of ECB Loan of INR 11.97 Crores offering equity shares of the Company to the lenders through preferential issue.

The Board also approved issue of twenty lacs equity shares of the Company under the Employees Stock Option Scheme, 2009.

The Board has fixed January 11, 2010 as the date of extra ordinary General Meeting of the Share holders in order to give effect to the above matters, amongst others.

The stock was trading at Rs.5.10, down by Rs.0.11 or 2.11%. The stock hit an intraday high of Rs.5.50 and low of Rs.4.99.

The total traded quantity was 22344 compared to 2 week average of 25693.

Source : Equity Bulls

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