Pacific Cotspin allots 14204400 shares

Pacific Cotspin Ltd has announced that the Board of Directors of the Company at its meeting held on August 17, 2010, allotted 1,42,04,400 Equity Shares of Rs. 10/- each to the promoters on preferential basis, pursuant to the authority given by the members in the Annual General Meeting held on September 30, 2009.

55,24,000 Equity Shares were allotted under CDR Scheme to Shri Ashok Mehra (Promoters) pursuant to conversion of Non-Cumulative preference Shares. The Fresh Issue of Equity Capital is 13,90,000. The Total shares allotted is 69,14,000. Shri Chandra Prakash Mehra (Promoters) was allotted 59,00,400 shares pursuant to conversion of Non-Cumulative preference Shares into Equity. The Fresh Issue of Equity Capital is 13,90,000 and the total shares are 72,90,400.

The stock was trading at Rs.3.04, up by Rs.0.14 or 4.83%. The stock hit an intraday high of Rs.3.04 and low of Rs.2.91.

The total traded quantity was 41319 compared to 2 week average of 16701.

Source : Equity Bulls

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