Shiva Cement EGM approves preferential issue

Shiva Cement Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 08, 2010, have approved the Reallocation of Authorised Share Capital into 1987.50 lakh nos. as Equity share capital and 12.50 lakh nos. as Preference share capital.

The Board approved increase in Authorised Share Capital from 4000 Lakhs to 4600 Lakhs.

The Board also approved the preferential issue of 10 Million Equity Share Warrants to Promoter's Group at a price of Rs. 11/- per warrant convertible into Equity Shares of Rs. 2/- each at a premium of Rs. 9/- per share.

The stock was trading at Rs.9.19, down by Rs.0.10 or 1.08%. The stock hit an intraday high of Rs.9.45 and low of Rs.9.02.

The total traded quantity was 95051 compared to 2 week average of 517205.

Source : Equity Bulls

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