Vaibhav Global Ltd Redeems Preference Shares

Vaibhav Global Ltd had issued and allotted 44,00,000 non convertible 1% Redeemable preference shares of Rs. 100 each to four Companies on October 31, 2006 for a period of seven years. The said shares are redeemable at the end of seven years from the date of allotment i.e. October 31, 2013 or before at the discretion of the Board.

Now these preference shares are due for redemption on October 31, 2013. Accordingly, the Company shall send the redemption proceeds to all Preference Shareholders by way of RTGS or Cheque on October 31, 2013.

Shares of Vaibhav Global Ltd was last trading in BSE at Rs.256.50, up by Rs.3.40 or 1.34%. The stock hit an intraday high of Rs.257.50 and low of Rs.252.

The total traded quantity was 2190 as compared to 2 week average of 0.10 lakhs.

Source : Equity Bulls

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