CHENNAI PETROLEUM CORPORATION LTD. - Outcome of Board Meeting

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25 May 2015
Chennai Petroleum Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 23, 2015, has accorded approval for the following proposals:<BR><BR>1. Increasing the Authorised Share Capital of the Company from Rs.400 crore (40,00,00,000 equity shares of Rs.10/- each) to Rs.1400 crore (divided into 40,00,00,000 equity shaves of Rs. 10/- each and 100,00,00,000 Preference shares of Rs.10/- each) by creation of 100,00,00,000 Preference shares of Rs.10/- each, subject to the approval of the shareholders of the Company.<BR><BR>2. Issue of maximum number of 100,00,00,000 Non-convertible Cumulative Redeemable Preference Shares of Rs.10/- each, in more than one tranche, for cash at par on private placement preferential allotment basis to Indian Oil Corporation Limited, the holding Company, subject to the approval of the shareholders of the Company.
View all announcements for CHENNAI PETROLEUM CORPORATION LTD.	Source: BSE India

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