Kohinoor Foods Ltd to consider preferential issue

A meeting of the Board of Directors of Kohinoor Foods Ltd is scheduled on 04/10/2018, to consider and approve the allotment of 58,14,000 nos. of Warrants having attached thereto the right to convert into equal number of Equity Shares of the Company, to the Promoters , pursuant to Special Resolution passed by the Members of the Company on 25th September, 2017 and receipt of In-principle approval from Stock Exchanges.

The board will consider allotment of 18,30,000 nos. of Equity Shares of face value of Rs. 10/- each pursuant to conversion of Warrants having attached thereto the right to convert into equal number of Equity Shares of the Company, to the Promoters namely Mr. Jugal Kishore Arora, Mr. Satnam Arora and Mr. Gurnam Arora.

Note: The total no. of Warrants to be allotted to Promoters of Kohinoor Foods Limited was 58,14,000, having attached thereto the right to convert into equal number of Equity Shares of the Company, in tranches. Hence proposal for conversion of 18,30,000 warrants into Equity Shares is under consideration at present.

Shares of KOHINOOR FOODS LTD. was last trading in BSE at Rs.30.2 as compared to the previous close of Rs. 30.9. The total number of shares traded during the day was 7923 in over 120 trades.

The stock hit an intraday high of Rs. 30.9 and intraday low of 29. The net turnover during the day was Rs. 235051.

Source : Equity Bulls

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