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Eastern Sugar & Industries To Allot Equity Shares

The board of Eastern Sugar & Industries at its meeting held on 11 November 2011 has decided to issue and allot 1,00,00,000 equity shares of Rs. 10 each, on preferential basis, to the holders of preference shares of the company, at such price as may be determined in accordance with the provisions of the said Regulations, the consideration for which shall be payable by way of conversion of each preference share of Rs. 100 each into 10 equity share of Rs. 10 each, to the extent of aggregate amount of Rs. 10 crores and balance by way of payment in cash.

The board also considered and approved the unaudited financial results of the company for the quarter ended 30th September 2011.

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