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Corporate - Preferential Allotments


Binny allots shares following BIFR orders

Our Bureau

Chennai , April 28

BINNY Ltd has allotted 2.23 crore shares of Rs 5 each fully paid up and 11.75 lakh fully paid up cumulative redeemable preference shares of Rs 5 each to its shareholders.

This follows the orders issued by the BIFR on October 22, 2003, and March 11, 2004, according to information provided by the company to the stock exchanges.

The board's share transfer committee at its meeting on April 16 allotted one equity share of Rs 5 for every equity share of Rs 10 held by the public (other than promoters and co-promoters) in Binny Ltd. A total of 2,23,19,410 equity shares of Rs 5 each were allotted.

It allotted one 9.75 per cent cumulative redeemable preference share of Rs 5 each fully paid up for every one 9.75 per cent cumulative redeemable preference share of Rs 10 each held by the public shareholders (other than promoters and co-promoters). Totally, 11,75,812 preference shares of Rs 5 each were allotted.

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