Southern Iron EGM approves issue of RCPS

Southern Iron & Steel Company Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on March 07, 2007, have approved to issue and allot 99,00,000, 11% Redeemable Cumulative Non-Convertible Preference Shares (11% RCPS) of Rs 10 each aggregating to Rs 9,90,00,000 to the Promoters and / or their associates and / or any other entity and / or person(s) including non-resident(s) to be decided by the Board of Directors, on preferential basis.

Further the Company has informed that, the Share Allotment Committee will allot the shares shortly.

Source : Equity Bulls

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