Shiva Fertilizers allots 1806587 shares

Shiva Fertilizers Ltd has announced that the Board of Directors of the Company at its meeting held on July 06, 2010, inter alia, has considered & approved the allotment of 18,06,587 Equity Shares to Promoters & Non Promoters on Preferential basis @ Rs. 55/- per share to allottees as per list.

The Board approved for Alteration of Object Clause by way of insertion of clauses permitting to engage in and diversify into 'Agro Products' related businesses thereby changing the general character and nature of the Company's business.

The Board approved commencement of New Business and approved the change of name of the Company from 'Shiva Fertilizers Ltd' to 'Shiva Global Agro Industries Ltd'.

The Board also approved proposal to take approval of members by Postal Ballot for Alteration of Object Clause, Commencement of new Business and Change of name of the Company.

The stock was trading at Rs.72.65, up by Rs.3.45 or 4.99%. The stock hit an intraday high of Rs.72.65 and low of Rs.66.25.

The total traded quantity was 30639 compared to 2 week average of 79507.

Source : Equity Bulls

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