Lincoln Pharmaceuticals approves issue of 5 million shares

Lincoln Pharmaceuticals Ltd has announced that the Board of Directors of the Company at its meeting held on August 31, 2010, inter alia, has approved the proposal to increase the authorized share capital from Rs. 12 Crores to Rs. 20 Crores subject to approval by members at AGM.

The Board also approved the issue of total 50,00,000 (Fifty lacs), equity shares of Rs. 10/- each on preferential basis as per SEBI (issue of Capital and Disclosure Requirements) Regulations 2009, to promoters / their associates / entities other than promoters on preferential basis, subject to approval by members at A.G.M.

The stock closed the day at Rs.42.05, down by Rs.0.95 or 2.21%. The stock hit an intraday high of Rs.43 and low of Rs.41.05.

The total traded quantity was 25169 compared to 2 week average of 87408.

Source : Equity Bulls

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