Lords Chloro Alkali approves issue of 30 lakh shares

The Board of Directors of Lords Chloro Alkali Ltd at its meeting held on June 30, 2011, has considered & approved the issue of 30,00,000 Equity Shares on Preferential Basis to the persons belonging to the Non Promoter Category at a price of Rs. 35/- per share which is higher than the price as determined in accordance with Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, subject to necessary approvals being obtained, including approval of the shareholders of the Company u/s 81(1A) of the Companies Act, 1956.

The Board has also approved convening of an Extraordinary General Meeting on July 29, 2011 to seek the permission of the shareholders for the aforementioned preferential issue.

The stock last traded at Rs.31.50. The stock hit an intraday high of Rs.31.50 and low of Rs.31.50.

The total traded quantity was 50 compared to 2 week average of 121.

Source : Equity Bulls

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