Accentia Technologies Ltd approves preferential issue of 40 lakh shares

The Board of Directors of Accentia Technologies Ltd at its meeting held on January 06, 2014, have considered various funding options to raise funds to implement the company's current business plans in India, the Middle East, Europe and the Americas; and approved issue on preferential basis up to 40,00,000 equity shares to various investors, subject to the approval of shareholders and all other requisite authorities. The issue will be made as per the SEBI (Issue of Capital & Disclosure Requirement) Regulations, 2009, and the pricing for the same will be as per SEBI approved pricing norms, under preferential basis.

The Board decided to convene an Extra Ordinary General Meeting on February 12, 2014, to get share holder approval for the issue of preferential shares.

The Board also approved resignation of Company Secretary with effect from December 31, 2013.

Shares of Accentia Technologies Ltd was last trading BSE at Rs.11.90, up by Rs.0.56 or 4.94%. The stock hit an intraday high of Rs.11.90 and intraday low of Rs.11.38.

The total traded quantity was 8004 shares as compared to 2 week average of 4877 shares.

Source : Equity Bulls

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