Sical Logistics EGM approves issue of shares to Credit Suisse, Macquarie Bank

Sical Logistics Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on July 09, 2007, inter alia, have accorded to the Board to raise, issue, offer and allot at any time and from time to time in one or more tranches from the unissued equity share capital of the Company by way of equity shares under private placement on preferential basis upto an amount not exceeding Rs 103 crores in the aggregate, including premium, not being at a price lesser than the price being arrived at as per the guidelines provided in Chapter XIII of SEBI (DIP) Guidelines - 2000 Guidelines for Preferential Issues as amended upto date to:

i. M/s. Credit Suisse Singapore Ltd : 20,50,000 No. of Equity Shares

ii. M/s. Macquarie Bank Ltd : 20,50,000 No. of Equity Shares.

The stock closed the day at Rs.272, down by Rs.4.40 or 1.59%. The stock hit an intraday high of Rs.278.90 and low of Rs.271.15. The total traded quantity was 2754 compared to 2 week average of 8490.

Source : Equity Bulls

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