Sacheta Metals EGM approves issue of shares on preferential basis

Sacheta Metals Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on May 28, 2007, have passed the following resolutions:

1. Issue of equity shares of value of not more than Rs 6.00 crores on preferential basis as per SEBI guidelines.

2. Increase the authorised capital from Rs 6 Crore to Rs 15 Cross.

3. Authorise the Board to re-issue 1,07,500 equity shares, for forfeited earlier.

The stock closed the day at Rs.9.16, down by Rs.0.24 or 2.55%. The stock hit an intraday high of Rs.9.69 and low of Rs.8.57. The total traded quantity was 3652 compared to 2 week average of 3409.

Source : Equity Bulls

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