Mercator Lines to consider fund raising on Sep 30, 2010

Mercator Lines Ltd has announced that a meeting of the Board of Directors of the Company will be held on September 30, 2010, inter alia, to consider and approve issue of further equity shares / any other security/warrants convertible into equity shares or carrying a right to subscribe to equity shares on preferential basis to the Promoters / Directors / other entity(ies).

The Board will also consider issue of Equity Stock Options/Purchase Scheme, or other similar scheme entitling eligible employees, Directors & other entities, for benefit under the scheme.

The stock closed the day at Rs.55.40, up by Rs.0.10 or 0.18%. The stock hit an intraday high of Rs.56.55 and low of Rs.55.20.

The total traded quantity was 7.04 lakhs compared to 2 week average of 6.02 lakhs.

Source : Equity Bulls

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