ASM Technologies Limited board approves rights issue

The Board of Directors of ASM Technologies Limited at its meeting held today, i.e. 21st of August, 2021, has considered and approved raising of funds through issuance and allotment of equity shares of Rs. 10 each ("Equity Shares") to the eligible equity shareholders of the Company on Rights basis, on such terms and at such price and ratio as may be decided by the Board or a duly constituted committee of the Board at a later date, as on the record date (to be notified subsequently), for an amount aggregating upto Rs. 15 crores, subject to receipt of regulatory / statutory approvals, in accordance with the applicable laws including the provisions of the, including Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013 and rules made thereunder, as amended from time to time ("Rights Issue").

The Board shall have the powers to decide all terms and conditions for Rights Issue and the matters connected and incidental thereto, including appointment of all the required intermediaries like Merchant Banker, Legal Counsel, Registrar, Escrow Bankers to the Rights Issue etc.

Shares of ASM Technologies Ltd. was last trading in BSE at Rs. 275.25 as compared to the previous close of Rs. 275.7. The total number of shares traded during the day was 18502 in over 375 trades.

The stock hit an intraday high of Rs. 284.15 and intraday low of 261.95. The net turnover during the day was Rs. 5040666.

Source : Equity Bulls

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