Uttam Sugar Mills allots 10% Cumulative Redeemable Preference Shares under Series II

The Preference Share Allotment Committee of Uttam Sugar Mills Ltd in its meeting held on March 15, 2011 have issued and allotted 16,26,500 10% Redeemable Cumulative Preference Shares of Rs. 100/- each aggregating to Rs. 16,26,50,000/- at a premium of Rs. 100/- per share aggregating to Rs. 16,26,50,000 totalling Rs. 32,53,00,000/- (Rupees Thirty Two Crores Fifty Three Lacs Only) to the entities forming part of Promoter group.

Consequently, with effect from March 15, 2011, the Issued and Subscribed Preference Share Capital of the Company stand increased to Rs. 50,00,00,000/- divided into 50,00,000 6.5% Redeemable Cumulative Preference Shares of Rs. 100/- each issued at par - Series - I and Rs. 18,42,50,000/- divided into 18,42,500 10% Redeemable Cumulative Preference Shares of Rs. 100/- each issued at a premium of Rs. 100/- per share - Series - II.

The stock closed the day at Rs.39.55, up by Rs.1.05 or 2.73%. The stock hit an intraday high of Rs.40.80 and low of Rs.39.40.

The total traded quantity was 11950 compared to 2 week average of 8917.

Source : Equity Bulls

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