Aditya Birla Nuvo allots 10000 Preference Shares

Aditya Birla Nuvo Ltd has announced that the Investor Relations and Finance Committee of the Board of Directors of the Company, has, on March 10, 2010, allotted 10,000 6% Redeemable Cumulative Preference Shares of Rs. 100/- each to the preference shareholders of Peter England Fashions and Retail Company Ltd., a subsidiary of the Company pursuant to the Order dated January 28, 2010 passed by the Hon'ble High Court of Gujarat at Ahmedabad in the composite Scheme of Arrangement between Aditya Birla Nuvo Ltd. (ABNL) and Madura Garments Exports Ltd. (MGEL) and MG Lifetstyle Clothing Company Pvt. Ltd. (MGLCCPL) and Peter England Fashions and Retail Ltd. (PEFRL) and their respective shareholders and creditors.

Further the Company has informed that, the preference shareholders (other than Aditya Birla Nuvo Ltd.) holding preference shares in PEFRL on March 09, 2010 (being fixed as Record Date) were entitled for 1 fully paid up 6% Redeemable Preference share of Rs. 100/- each of the Company as fully paid up for every 1 6% Redeemable Cumulative Preference Share of Rs. 100/- each fully paid up and held in PEFRL.

The stock closed the day at Rs.857, down by Rs.7.10 or 0.82%. The stock hit an intraday high of Rs.874 and low of Rs.855.10.

The total traded quantity was 13872 compared to 2 week average of 19571.

Source : Equity Bulls

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