Sumeet Industries increases authorised share capital, to consider issue of bonus shares

Sumeet Industries Ltd has announced that the Board of Directors has approved Issue of Shares worth Rs 20 Million on preferential basis to M/s. Bennett Coleman & Co. Ltd (Times of India Group) and 2,50,000 Shares to M/s. Vishvas Infrastructure Ltd at price of Rs 30/- per shares or as per guidelines for preferential issued by SEBI.

The Board of Directors has approved to increase in Authorised Share Capital from 250 Million to 290 Million.

The Board of Directors has also decided to convene an Extra Ordinary General Meeting on March 31, 2007 to obtain consent for the above mentioned matter.

The Board of the company will meet on March 5, 2007 to consider issue of bonus shares and decide the venue and time of EGM on March 31, 2007.

Source : Equity Bulls

Keywords