Country Condos to consider allotment of 2.9 crore shares on July 16, 2010

Country Condos Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 16, 2010, inter alia, to consider the issue & allotment of 2,90,00,000 (Two Crores Ninety Lakhs Only) Equity Shares of Re. 1/- (Rupee One) each Pursuant to the Approval of the Scheme of Amalgamation of M/s. Country Club Bangalore Ltd. with M/s. Country Condo's Ltd. by the Hon'ble High Court of Andhra Pradesh at the Share Exchange Ratio of 29:5 (i.e., For Every 5 Equity Shares of M/s. Country Club Bangalore Ltd. 29 New Equity Shares of M/s. Country Condo's Ltd. will be allotted.)

The stock closed the day at Rs.4, up by Rs.0.26 or 6.95%. The stock hit an intraday high of Rs.4.28 and low of Rs.3.72.

The total traded quantity was 12860 compared to 2 week average of 7635.

Source : Equity Bulls

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