National General Industries to allot shares on amalgamation

National General Industries Ltd has announced that pursuant to section 154 of the Companies Act, 1956 and in terms of Scheme of Amalgamation sanctioned by Hon'ble High Court of Delhi for amalgamation of Modi Metal Udyog Pvt. Ltd. (MMUPL) with the Company, Board of Directors has fixed May 14, 2010 as the 'RECORD DATE' for determining the names of the shareholders holding equity shares of MMUPL, who would be entitled for allotment/issue of equity shares of the Company, as per the Register of Members maintained by MMUPL, in the swap ratio as provided in the Scheme of Amalgamation i.e. 16 fully paid-up equity shares of Rs. 10/- each of the Company for every 10 fully paid-up equity shares of Rs. 100/- each of MMUPL.

The stock last traded at Rs.42.05, up by Rs.2 or 4.99%. The stock hit an intraday high of Rs.42.05 and low of Rs.42.05.

The total traded quantity was 100 compared to 2 week average of 175.

Source : Equity Bulls

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