Zenotech Laboratories Ltd approves raising of funds through Rights Issue

The Board of Directors of Zenotech Laboratories Ltd at its meeting held on May 21, 2016, whin commenced and concluded at 4.10 p.m., has considered and approved the proposal for raising of funds by way of offer and issue of equity shares to the existing shareholders of the Company on a rights basis (Rights Issue).

The Board has constituted a Committee of Directors (the Committee) for the above purpose and has authorised the Committee to determine the terms of the Rights Issue including the quantum of issue, rights entitlement ratio, issue price, issue size, book closure or record date, entitlement, timing of the issue, etc., in consultation with the Lead Manager to the Right Issue and to decide all other matters relating to the Right Issue. Such details shall be informed and/or announced in due course as and when decided or required, as per applicable statutory provisions and depending upon the market conditions.

The above proposal to issue of shares shall be subject to necessary approvals, confirmations and consents as may be necessary and in compliance with applicable law including the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and the Companies Act, 2013 and the Rules made there under.

Shares of ZENOTECH LABORATORIES LTD. was last trading in BSE at Rs.45.65 as compared to the previous close of Rs. 45.65. The total number of shares traded during the day was 2929 in over 22 trades.

The stock hit an intraday high of Rs. 45.65 and intraday low of 45.65. The net turnover during the day was Rs. 133708.

Source : Equity Bulls

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