Cambridge Technology Enterprises to issue 1750000 shares

Cambridge Technology Enterprises Ltd has announced that the Board of Directors of the Company at its meeting held on September 30, 2010 considered and approved issue of 17,50,000 equity shares to OurVox Holdings LLC, USA and 20,56,600 equity shares to Smartshift AG, Germany on preferential basis at a price of Rs. 24/- per share (inclusive of premium of Rs. 14/- per share).

In this regard, the Board also approved to hold an extra ordinary general meeting for obtaining shareholder's approval.

The stock was trading at Rs.23.75, up by Rs.3.95 or 19.95%. The stock hit an intraday high of Rs.23.75 and low of Rs.21.05.

The total traded quantity was 146355 compared to 2 week average of 8688.

Source : Equity Bulls

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