Shri Lakshmi Cotsyn to consider raising funds on Jan 25, 2010

Shri Lakshmi Cotsyn Ltd has announced that a meeting of the Board of Directors of the Company will be held on January 25, 2010, inter alia, to consider the means of financing including raising of equity by way of QIP, PE, PP (Private Placement), FCCB, Warrants, GDR, ADR etc. to meet out the expansion project cost of Technical Textiles, Denim, Home-furnishing and Spinning project.

The Board will consider and take on record, the Un-audited Financial Results of the Company for the quarter ended December 31, 2009.

The Board will consider the appointment of a director in place of the casual vacancy caused due to the resignation of Mr. J. S. Varshney.

The Board will also consider the change of name of the Company subject to the availability of name with Registrar of Companies.

The stock was trading at Rs.131.50, up by Rs.2.65 or 2.06%. The stock hit an intraday high of Rs.132.90 and low of Rs.130.

The total traded quantity was 16016 compared to 2 week average of 94862.

Source : Equity Bulls

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