Gee El Woollens Ltd approves preferential issue to new inestors

The Board of Directors of Gee El Woollens Ltd at its meeting held on November 04, 2013, has approved issue of Equity shares on preferential basis to Non-Promoter persons (New Investors) at a price to be calculated as per the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 subject to the approval of shareholders of the Company through a Postal Ballot Process.

The Board has decided to increase the existing authorized share capital of the Company into Rs. 200 Cr, subject to the approval of the shareholders through the postal ballot process.

The Board has also approved the draft notice of the postal ballot and authorize Mr. Arun Chandran K. Company Secretary to do all the needful actions to complete the postal ballot process.

Shares of Gee El Woollens Ltd was last trading in BSE at Rs.9.93, up by Rs.0.19 or 1.95%. The stock hit an intraday high of Rs.9.93 and low of Rs.9.93.

The total traded quantity was 100 as compared to 2 week average of 877.

Source : Equity Bulls

Keywords