Gayatri BioOrganics approves conversion of 752500 CROCPS

Gayatri BioOrganics Ltd has announced that the Board of Directors of the Company at its meeting held on November 10, 2010, inter-alia, considered and approved the conversion of 7,52,500 6% Cumulative Redeemable Optionally Convertible Preference Shares of Rs. 100/- each in to 75,25,000 Equity Shares of Rs. 10/- each at par out of the total existing 38,38,135, 6% Cumulative Redeemable Optionally Convertible Preference Shares to the Promoters.

The Board is considering the acquisition of another existing Starch Plant with 150 MTs per day crushing capacity as an expansion plans of the Company.

The stock closed the day at Rs.11, down by Rs.0.18 or 1.61%. The stock hit an intraday high of Rs.11.72 and low of Rs.11.

The total traded quantity was 11404 compared to 2 week average of 6016.

Source : Equity Bulls

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