Shirpur Gold Refinery allots 13574702 equity shares

Shirpur Gold Refinery Ltd has announced that the Hon'ble Bombay High Court has passed an order on June 11, 2010 (in Scheme Petition No. 186 of 2010) approving a Scheme of Arrangement between Kala Kosh Auctions Pvt. Ltd. and Shirpur Gold Refinery Ltd. and their respective shareholders and creditors made under sections 391 to 394 of the Companies Act, 1956 ('the Scheme'), with Appointed date as April 01, 2009. Upon filing of the certified copy of the Court order with the Registrar of Companies, Maharashtra, Mumbai, the Scheme has become effective on July 20, 2010.

Consequent upon the scheme becoming effective, the Company is required to issue and allot 152 fully paid up equity shares of Rs. 10 each of the Company for every 100 equity shares of Rs. 10/- each held by the shareholders of Kala Kosh Auctions Pvt. Ltd. Further the Company has informed that, pursuant to the said scheme became effective, the Board of Directors of the Company vide circular resolution passed on September 10, 2010, allotted 1,35,74,702 fully paid up equity shares of Rs. 10/- each to the shareholders of Kala Kosh Auctions Pvt. Ltd, being the transferor Company. This has resulted in the increase of paid up share capital of the Company from Rs. 155,625,000 to Rs. 291,372,020.

The stock closed the day at Rs.216.10, down by Rs.6.20 or 2.79%. The stock hit an intraday high of Rs.228.95 and low of Rs.214.60.

The total traded quantity was 1.84 lakhs compared to 2 week average of 2.05 lakhs.

Source : Equity Bulls

Keywords