Ankur Drugs and Pharma approves issue of shares

The Board of Directors of Ankur Drugs and Pharma Ltd at its meeting held on February 01, 2012, inter alia, has passed the resolution for raising the equity capital as part of CDR scheme.

The Board approved the proposal to Increase Authorized Share Capital of the company from Rs 28 Crores to Rs. 156 Crores in pursuance of Section 16, 31, 94 of the Companies Act, 1956 and the subsequent Alteration of Memorandum and Articles of Association. The Board also approved proposal to reclassify the Share Capital in accordance with the increase in Authorized Capital from Rs. 28 Crores to Rs. 156 Crores in pursuance of Article 4 of Articles of Association of the Company.

The Board approved the proposal to alter Articles of Association by insertion of Article 8A for power to issue Optionally Convertible Cumulative Redeemable Preference Shares in the capital of the Company.

The Board approved the proposal to Issue 0.001% Optionally Convertible Cumulative Redeemable Preference Shares of the face value of Rs. 100/- on a preferential basis, in pursuance to the CDR Scheme as approved by the CDR EG to the value of Rs. 132,19,79,000/-

The Board also gave its approval for conducting Postal Ballot for the items in 2 & 3 above and the Calendar of Events was approved. The Board has appointed Ms. Rachana Kamat, Practicing Company Secretary as the scrutinizer for the same.

The Ankur Drugs and Pharma Ltd stock was trading at Rs.20.45, down by Rs.0.40 or 1.92%. The stock hit an intraday high of Rs.21.70 and low of Rs.20.20.

The total traded quantity was 0.36 lakhs compared to 2 week average of 0.26 lakhs.

Source : Equity Bulls

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