Lloyds Steel Industries to issue equity sharesOn preferential basisThe members of Lloyds Steel Industries have approved the issue of 38 crore equity shares of Rs 10 each on preferential basis at a price of Rs 10 per share higher than the price calculated in accordance with preferential issue guidelines contained in SEBI (ICDR) Regulations, 2009 to the existing shareholders of the company namely, Ultimate Logistics Solutions (31 crore equity shares) and Metallurgical Engineering and equipments (7 crore equity shares).Further, the members have approved the appointment of U N Challu, B L Khanna and Ashok Tandon as directors on the board.This was approved at the extraordinary general meeting held on 14 July 2012.