DFM Foods to issue 30000 shares

DFM Foods Ltd has announced that the Board of Directors of the Company at its meeting held on October 29, 2010, inter alia, has decided to issue 30000 equity shares of face value of Rs. 10/- each to Mr. Sanjay Gupta, an investor on preferential allotment basis at a price determined in accordance with the SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009 subject to the approval of the members of the Company in Extra-Ordinary General Meeting by way of special resolution as required to be passed under the provisions of the Companies Act, 1956 as well as the provisions of ICDR Regulations and such other approvals, consent, sanction etc. as may be required for this purpose.

An Extra Ordinary General Meeting of the shareholders of the Company will be convened on December 09, 2010 for this purpose.

The stock closed the day at Rs.72.20, up by Rs.3 or 4.34%. The stock hit an intraday high of Rs.76.10 and low of Rs.70.

The total traded quantity was 0.83 lakhs compared to 2 week average of 0.13 lakhs.

Source : Equity Bulls

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