Empee Sugars to consider issue of preference shares on July 10, 2010

Empee Sugars & Chemicals Ltd has announced that subsequent to the decision of the shareholders in the 20th Annual General Meeting held on June 28, 2010, a meeting of the Board of Directors of the Company will be held on July 10, 2010 to consider Issue of 8% Cumulative Convertible Preference shares of Rs. 10/- each at a premium of Rs. 140/- per share on Private Placement to M/s. Empee Distilleries Ltd. in place of 8% Cumulative Redeemable Preference Shares of Rs. 100/- each as originally proposed and also to secure the approval of the members through postal ballot.

The stock closed the day at Rs.49.30, down by Rs.0.80 or 1.60%. The stock hit an intraday high of Rs.50.55 and low of Rs.49.30.

The total traded quantity was 295259 compared to 2 week average of 211048.

Source : Equity Bulls

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