Global Vectra Helicorp to increase authorised capital

Global Vectra Helicorp Ltd has announced that the Board of Directors of the Company at its meeting held on December 31, 2009, has approved the proposal to increase the Authorised Share Capital of the Company to Rs. 95,00,00,000 (Rupees Ninety Five Crores only) divided into 2,50,00,000 (Two Crore Fifty Lacs) Equity Shares of Rs. 10 (Rupees Ten) each and 70,00,000 (Seventy Lacs) 11% Non-Convertible Cumulative Redeemable Preference Shares of Rs. 100 (Rupees one hundred) each subject to consent of members in General Meeting.

The Board approved proposal to issue 65,93,490, 11% Non-Convertible Cumulative Redeemable Preference Share of Rs. 100 each to Vectra Ltd., UK for lease rental outstanding subject to the approvals of the Government of India and Reserve Bank of India, where necessary, and subject to the Regulations / guidelines, if any, prescribed by the Securities and Exchange Board of India ("SEBI") or any other relevant authority from time to time to the extent applicable, and subject to consent of members in General Meeting and such other approvals, permissions and sanctions as may be considered necessary.

The Board approved proposal to call an Extra Ordinary General Meeting on February 01, 2010 for above.

The stock closed the day at Rs.44.75, up by Rs.0.75 or 1.70%. The stock hit an intraday high of Rs.44.75 and low of Rs.43.80.

The total traded quantity was 2892 compared to 2 week average of 3897.

Source : Equity Bulls

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