Liberty Phosphate to issue 50 lakh preference shares

The Board of Directors of Liberty Phosphate Ltd at its meeting held on January 19, 2013, has considered and decided to seek approval of members by way of Special Resolution through postal ballot for authorizing the Board to vary any terms of issue of 50,00,000 "8% Cumulative Redeemable Preference Shares" of Rs.10/- each, and in particular an early redemption of the same in one or more installments out of the accumulated profits of the company consequent upon receipt of request(s) from holders of these shares.

The Board also appointed Mr. Devesh Pathak, Practicing Company Secretaries, Vadodara to act as the Scrutinizer.

The Liberty Phosphate Ltd stock was trading at Rs.205.50, up by Rs.6.10 or 3.06%. The stock hit an intraday high of Rs.208.70 and low of Rs.190.

The total traded quantity was 1.83 lakhs compared to 2 week average of 1.23 lakhs.

Source : Equity Bulls

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