Capital Trust approves preferential issue

Capital Trust Ltd has announced that the Board of Directors of the Company at its meeting held on October 21, 2010, inter alia, has approved the issue of 1,300,000 Convertible Warrants to the promoters on preferential Basis and, issue of 1,300,000 Convertible Warrants to M/s. Taj Capital Partners Pvt. Ltd. and their Associates on Preferential Basis convertible within the period of 18 Months at the price calculated as per SEBI guidelines, subject to the approval of Shareholders.

The Board approved issue of 1,300,000 Equity Shares on the preferential basis to M/s. Taj Capital Partners Pvt. Ltd and their Associates at the price calculated as per SEBI guidelines of preferential allotment and subject to the approval of Shareholders.

The Board approved increase in the Authorised Capital of the Company from 100,000,000 (Ten Crores) to 150,000,000 (Fifteen Crores) subject to the approval of Shareholders in the Extra-ordinary General Meeting.

The Board also approved the Notice of Extra-Ordinary General Meeting to be held on November 17, 2010.

The stock closed the day at Rs.75.50, up by Rs.4.80 or 6.79%. The stock hit an intraday high of Rs.77.75 and low of Rs.74.60.

The total traded quantity was 49490 compared to 2 week average of 9087.

Source : Equity Bulls

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