Ugar Sugar board recommends rights issue

The board of directors of Ugar Sugar Works at its meeting held on Aug. 18, 2007, recommended rights shares in the ratio of 1 share for every 4 shares held, at a premium of Rs 7 a share i.e. total Rs 8 a share, which is subject to the approval of the shareholders in the general body meeting to be held on Sep. 28, 2007.

Shares of the company were last trading up Rs1.16, or 10.23%, at Rs 12.50. The total volume of shares traded at the BSE was 2,651. (10.19 a.m, Monday