Lumax Industries to issue 10,00,000 shares to Stanley Electric Co. Ltd., Japan

Lumax Industries Ltd has announced that the Board of Directors of the Company at its meeting held on March 26, 2007 has approved proposal to issue 10,00,000 Equity Shares of Rs 10/- each to Stanley Electric Co. Ltd., Japan (Collaborator) for cash / at a price including premium, if any, to be determined as per the SEBI Guidelines 2000.

Further the Company has informed that, the Board has also convened an Extra Ordinary General Meeting of the Members on April 24, 2007, to consider the aforesaid proposal of issuance of Equity Shares to Stanley Electric Co. Ltd. on Preferential Basis.

Source : Equity Bulls

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