CITY UNION BANK LTD. - QIP of Equity Shares by Bank

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CITY UNION BANK LTD. - QIP of Equity Shares by Bank

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15 Jul 2014
City Union Bank Ltd has informed BSE that :<br/><br/>1. Subsequent to the approval accorded by the Board of Directors of the Bank, at its meeting held on July 29, 2013 and the approval of the shareholders of the Bank by way of a special resolution dated August 30, 2013 for the QIP, the QIP Management Committee of the Bank has, at its meeting held today i.e. July 14, 2014, inter alia, passed resolutions in connection with the following:<br/><br/>(i) authorizing the opening of the Qualified Institutions Placement of equity shares of face value of Rs. 1 each (the "Equity Shares") by City Union Bank Limited (the "Bank") under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI Regulations") and Section 42 of the Companies Act, 2013 (including the rules made thereunder) to Qualified Institutional Buyers (the "QIBs") as defined under Regulation 2(l)(zd) of the SEBI Regulations (the "QIP"), on July 14, 2014; and<br/><br/>(ii) approving and adopting the preliminary placement document dated July 14, 2014, in connection with the QIP, (the "Preliminary Placement Document").<br/><br/>2. The 'Relevant Date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI Regulations, is July 14, 2014 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI Regulations is Rs. 75.05 per Equity Share.
View all announcements for CITY UNION BANK LTD.	Source: BSE India

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