Asian Oilfield Services Ltd to allot 70 lakh shares to Samara Capital Partners Fund

The Board of Directors of Asian Oilfield Services Ltd at its meeting held on September 18, 2013, has accorded their approval to issue 70,00,000 Equity shares of Rs. 10/- each to Samara Capital Partners Fund (I) Ltd, promoters of the Company on preferential basis, at a price that may be determined as per regulation 76 of SEBl (ICDR) regulations, 2009, subject to the approval of the shareholders through Postal Ballot and other regulatory approvals.

The 'Relevant Date' for the aforesaid preferential issue is September 23, 2013. For seeking approval of the shareholders through Postal Ballot under 81(1A) of the Companies Act, 1956, Mr. Sanjay Shringarpure, Practicing Company Secretary, has been appointed as the Scrutinizer to carry out the Postal Ballot Process.

Shares of Asian Oilfield Services Ltd was last trading in BSE at Rs.22, up by Rs.1 over its previous close of Rs.21. The stock hit an intraday high of Rs.22 and low of Rs.20.1.

The total traded quantity was 3401 and the turnover was Rs.68740.

Source : Equity Bulls

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