Sanwaria Agro Oils approves preferential issue

Sanwaria Agro Oils Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 23, 2010, considered and approved the Preferential Issue of shares.

The Board decided to issue Equity Shares on Preferential basis to Brand Equity Treaties Limited (BETL) / Bennett Coleman & Company Limited (BCCL) on such price as per the SEBI guidelines in terms of Chapter VII of the Securities Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2009 (ICDR Regulations) for an amount not exceeding Rs. 35 crores subject to such approvals and permissions as may be necessary and required.

Further the Board decided to convene Extra Ordinary General Meeting of the members of the Company on April 22, 2010 for the purpose of approval of above.

The stock was trading at Rs.57.70, down by Rs.0.60 or 1.03%. The stock hit an intraday high of Rs.60 and low of Rs.56.50.

The total traded quantity was 18471 compared to 2 week average of 67119.

Source : Equity Bulls

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