SGN Telecoms board approves rights issue
SGN Telecoms board approves rights issue
The board of directors of SGN Telecoms, (Q, N,C,F)* at its meeting held on Sep. 06, 2007, approved to offer equity shares on rights basis in the ratio 3:1, i.e. three equity shares for every one share. > The board also approved to increase the authorized capital from Rs 100 million to Rs 280 million. Further, the board appointed Surinder Singh as joint managing director of the company.
Shares of the company gained Rs 0.06, or 4.65%, to settle at Rs 1.35. The total volume of shares traded was 205,941 at the BSE. (Thursday)
