Eastern Sugar & Industries Ltd to consider preferential issue on Sept 16, 2014

A meeting of the Board of Directors of Eastern Sugar & Industries Ltd will be held on September 16, 2014, to consider the allotment of 70,00,000 equity shares of Rs. 10/- each issued at par on preferential basis and 52,50,000 equity shares against 5,25,000 cumulative convertible preference shares at par in terms of special resolution passed on October 03, 2013 and in-principle approval received from BSE on September 04, 2014.

The Board will consider seeking approval of shareholders for the resolution u/s 180 (1) (a) for authorizing board to create security, resolution u/s 180 (1) (c) for authorizing board to borrow money and others.

Shares of EASTERN SUGAR & INDUSTRIES LTD. was last trading in BSE at Rs.1.41 as compared to the previous close of Rs. 1.48. The total number of shares traded during the day was 132185 in over 159 trades.

The stock hit an intraday high of Rs. 1.5 and intraday low of 1.41. The net turnover during the day was Rs. 190422.

Source : Equity Bulls

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