Sayaji Hotels allots 4668000 shares

Sayaji Hotels Ltd has announced that the Board of Directors of the Company at its meeting held on May 10, 2010, inter alia, have considered and approved the allotment of 46,68,000 Equity Shares to respective Bond Holders against 75 (Seventy-Five) 0.5% coupon secured FCCBs @ US$ 100,000.

The Board also approved increase in the remuneration of Managing Director of the Company from Rs. 2.50 Lacs to Rs 4.00 lacs per month.

The stock was trading at Rs.120, up by Rs.2 or 1.69%. The stock hit an intraday high of Rs.120 and low of Rs.114.50.

The total traded quantity was 4010 compared to 2 week average of 4690.

Source : Equity Bulls

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