Golden Securities Board to consider Right Issue

Golden Securities Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 08, 2010, inter alia, to appoint Mr. G L Goenka & Mr. G S Mehta as Additional Directors of the Company and accept the resignation of Mr. Pramod Kr Mehta & Ashok Kr. Bansal from the Board of the Company.

The Board will consider proposal to increase the authorized share capital from Rs. 3,50,00,00O (Rupees Three Crores Fifty Lacs Only) to Rs. 12,50,00, 000 (Rupees Twelve Crores Fifty Lacs Only).

The Board will alter the Memorandum and Article of Association of the Company in respect of the Capital Clause.

The Board will also consider the proposal to raise resources for the expansion plan of the Company and to enhance the net worth of the Company by way of fresh issue of equity shares on rights basis.

The stock closed the day at Rs.15, up by Rs.0.70 or 4.90%. The stock hit an intraday high of Rs.15 and low of Rs.15.

The total traded quantity was 300 compared to 2 week average of 12039.

Source : Equity Bulls

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