Pioneer Embroideries approves preferential issue

Pioneer Embroideries Ltd has announced that the Board of Directors of the Company at its meeting held on February 09, 2010, inter alia, has considered and approved the issue of Equity Shares on Preferential basis to Promoters of the Company on such price as per the SEBI guidelines in terms of corporate Debt Restructuring approved by CDR Cell towards contribution by Promoters of the Company for an amount not exceeding of Rs. 3.50 Crores subject to such approvals and permissions as may be necessary and required.

Approval of convening the Extra Ordinary General Meeting of Members of the Company for the purpose of approval of above on March 22, 2010.

The stock was trading at Rs.19.55, up by Rs.0.90 or 4.83%. The stock hit an intraday high of Rs.19.55 and low of Rs.18.75.

The total traded quantity was 16094 compared to 2 week average of 12022.

Source : Equity Bulls

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