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Binani Industries’ members approve issue of shares

Binani Industries announced that the members at the extra ordinary general meeting (EGM) of the company held on Feb. 15, 2008 have passed the special resolutions for issue of shares on preferential basis and payment of commission to directors other than managing director and wholetime director with requisite majority.

The company and its subsidiaries are into the manufacture of cement, glass fiber and sheet molding compound. The company offers metal and byproducts including cadmium and sulphuric acid.

Shares of the company declined Rs 0.45, or 0.25%, to trade at Rs 180.5. The total volume of shares traded was 3,732 at the BSE. (3.30 p.m., Friday).