Everonn Education approves allotment of 4 million debentures to SKIL Infra

Everonn Education Ltd has announced that the Board of Directors of the Company at its meeting held on July 19, 2010, has approved Preferential Allotment of 40,00,000 Optionally Convertible debentures aggregating, approximately Rs. 2084 million, to be converted upto 40,00,000 equity shares of Rs. 10/- each, to M/s SKIL Infrastructure Ltd, subject to requisite shareholder / regulatory and other approvals. The exact price to be determined as per SEBI (ICDR) Regulations 2009.

M/s SKIL Infrastructure Ltd is categorized as co-promoter of the Company.

In this regard, the Board of Directors has also approved convening an Extra Ordinary General Meeting of the Members of the Company on August 18, 2010, inter alia, to seek and obtain the approval of the members for the Preferential Allotment of Optionally Convertible Debentures.

The stock was trading at Rs.556.50, down by Rs.1.15 or 0.21%. The stock hit an intraday high of Rs.584.55 and low of Rs.543.05.

The total traded quantity was 996956 compared to 2 week average of 1199083.

Source : Equity Bulls

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