Spicejet Ltd to issue 35977619 shares to Kalanithi Maran

The Board of Directors of the Company at its meeting held on August 26, 2011, has decided to issue as 35,977,619 equity shares of face value of Rs. 10/- on a price to be determined as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 to Mr. Kalanithi Maran, Promoter of the Company, on preferential basis subject to the approval of the members of the Company in the ensuing Annual General Meeting by way of special resolution as per the provisions of the Companies Act, 1956 as well as such other provisions of SEBI (issue of Capital and Disclosure Requirements) Regulations, 2009 an such other approvals, consent, etc. as may be required for this purpose.

The Annual General Meeting of the shareholders of the Company will be held on September 29, 2011.

The stock closed the day at Rs.21.75, down by Rs.0.95 or 4.19%. The stock hit an intraday high of Rs.23.20 and low of Rs.21.50.

The total traded quantity was 19.54 lakhs compared to 2 week average of 60.66 lakhs.

Source : Equity Bulls

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