CAPITAL TRUST LTD. - Outcome of Board Meeting
| < Back | |
| 22 May 2015 | |
| Capital Trust Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 22, 2015, took note of allotment of 75,00,000 warrants convertible into equity shares of Rs. 10 /- each, at a price of Rs. 117/- per warrant to the promoter, Mr. Yogen Khosla, on preferential basis in terms of Clause 24(a) of the Listing Agreement.<BR><BR>An amount equivalent to 25% of the total consideration determined in terms of Regulation 76 of the SEBI (ICDR) Regulations, 2009 i.e. Rs. 21,93,75,000 has been received on allotment of warrants and balance 75% will be payable at the time of allotment of equity shares pursuant to exercise of option i.e. within a period of 18 months as per Regulation 77 of the SEBI(ICDR) Regulations, 2009.<BR><BR>Further, the Company has informed that an undertaking has been received by the Board from Mr. Yogen Khosla declaring that total promoter shareholding will not exceed 75% of the total shareholding at any time. | |
| View all announcements for CAPITAL TRUST LTD. | Source: BSE India |
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback