Ruchi Strips & Alloys Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 04, 2010, has transacted following business:
1. Alloted 1,10,95,701 Equity Shares of Rs. 10/- each at a premium of Rs. 4.42 per share for cash to promoter and non-promoter group on preferential basis.
2. Approved redemption of 16,00,000 5% Non-cumulative Redeemable Preference Shares of the Company,
3. Approved the renewal of Statement in Lieu of Advertisement under section 58 of the Companies Act, 1956.