JHS Svendgaard Laboratories approves preferential allotment

The Board of Directors of JHS Svendgaard Laboratories Ltd at its meeting held on March 12, 2011, have decided to do a preferential allotment of 25,00,000 (Twenty Five Lac) Equity Shares to Tano Mauritius India FVCI at a price of Rupees 97.75 and on such term and conditions in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, Companies Act, 1956, and other applicable Acts, Rules and Regulations.

The Board has also approved the Notice of the Extraordinary General Meeting of the Company which is scheduled to be held on April 09, 2011, to get the necessary Shareholder approval.

The stock was trading at Rs.79.50, up by Rs.1.90 or 2.45%. The stock hit an intraday high of Rs.84.95 and low of Rs.78.70.

The total traded quantity was 4.40 lakhs compared to 2 week average of 2.64 lakhs.

Source : Equity Bulls

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