Shiva Cement allots 17000000 shares

Shiva Cement Ltd has announced that the Board of Directors of the Company at its meeting held on December 13, 2010, has approved the allotment of 1,70,00,000 Equity Shares as Bonus Shares in the ratio of 1 : 10 (i.e., one Bonus Equity Share for every ten Equity Shares held on record date December 11, 2010).

Out of above 1,57,36,397 Bonus Equity Shares will be issued at present and balance 12,36,603 Bonus Shares be kept in abeyance and shall be allotted upon conversion of Existing issued Equity Share Warrants.

Any fractions arising in present bonus issue will be allotted to a nominee Sri R P Gupta.

The stock was trading at Rs.8.10, up by Rs.0.25 or 3.18%. The stock hit an intraday high of Rs.8.10 and low of Rs.7.61.

The total traded quantity was 9.97 lakhs compared to 2 week average of 21.27 lakhs.

Source : Equity Bulls

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