Ushdev International Board approves 1:1 bonus issue, withdraws Rights Issue

Ushdev International Ltd has announced that the Board of Directors of the Company at its meeting held on October 15, 2007, inter alia, has transacted and approved the following:

1. Withdrawal of rights issue subject to the approval of shareholders. The Company may consider issue of rights at a later stage.

2. Issue of Bonus Shares in the ratio of 1:1.

3. Increase in Authorized Capital.

The stock closed the day at Rs.189.20, up by Rs.31.50 or 19.97%. The stock hit an intraday high of Rs.189.20 and low of Rs.189.20.

The total traded quantity was 2635 compared to 2 week average of 1160.

Source : Equity Bulls

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