Lloyds Steel to reconsider issue of warrants on Dec 31, 2009

Lloyds Steel Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 31, 2009, to reconsider and approve 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.

The Board iwll consider and approve Issue of Equity shares to Industrial Development Bank of India Ltd. against conversion of exiting part loan into Equity of the Company on preferential basis.

The Board will also approve the Draft Notice to convene the Extra Ordinary general Meeting of the Members of the Company for the aforesaid matters.

The stock closed the day at Rs.9.04, up by Rs.0.11 or 1.23%. The stock hit an intraday high of Rs.9.20 and low of Rs.8.95.

The total traded quantity was 134480 compared to 2 week average of 171846.

Source : Equity Bulls

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