Thambbi Modern to issue shares at Rs.25 on preferential basis

Thambbi Modern Spinning Mills Ltd has announced that the Board of Directors of the Company at its meeting held on June 26, 2007, has resolved to convene an EGM to be held on July 21, 2007 for the following purposes:

1. Increase the authorized capital to Rs 14 Crores and for this purpose alter the Memorandum and Articles of Association.

2. Issued create and allot Under Sec 81(1A) of the companies act 1956, 10 Lakhs Equity Shares of Rs 10/- each at Rs 25/- per share (Including the premium of Rs 15/- per share) to Non Promoters and 80,000 Equity Shares of Rs 10/- each at Rs 25/- per share (Including the premium of Rs 15/- per share) to promoters.

The stock closed the day at Rs.9.40, down by Rs.0.33 or 3.39%. The total traded quantity was 699 compared to 2 week average of 1406. The stock hit an intraday high of Rs.10.05 and low of Rs.9.40.

Source : Equity Bulls

Keywords