Pix Transmissions to convert preference shares

Pix Transmissions Ltd has announced that the Board of Directors of the Company at its meeting held on August 17, 2010, has decided to convert existing 11,17,110 6% Redeemable Cumulative Preference Shares of Rs. 100/- each in to 6% Cumulative Convertible Preference Shares of Rs. 100/- each in full or in parts in line with Stock Exchange / SEBI guideline. Board has also decided to convene an Extra Ordinary General Meeting to get the consent of the members to the said conversion of existing 11,17,110 6% Redeemable Cumulative Preference Shares of Rs. 100/- each in to 6% Cumulative Convertible Preference Shares of Rs. 100/- each in full or in parts.

The stock closed the day at Rs.91.25, down by Rs.0.15 or 0.16%. The stock hit an intraday high of Rs.93.80 and low of Rs.90.20.

The total traded quantity was 3775 compared to 2 week average of 25265.

Source : Equity Bulls

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