Sagar Tourist Resorts approves conversion of preference shares

Sagar Tourist Resorts Ltd has announced that the Board of Directors of the Company at its meeting held on August 13, 2010, inter alia, has approved conversion of Conversion of 2,00,000 12.5% Optionally Convertible Cumulative Preference Shares of Rs. 100/- each held by the promoters and promoters group into Equity Shares of the Company subject to the approval of the concerned authorities.

The Board also approved proposal to initiate the action of sending demand-cum -forfeiture notice to the shareholders who have not paid the call money.

Source : Equity Bulls

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