ELPRO INTERNATIONAL LTD. - Board approve Rights Issue of equity shares & Stock Split
Download 
|
< Back |
| 25 Jul 2017 | |
| Elpro International Ltd has informed BSE that:<BR><BR>1. At the meeting of the Board of Directors of the Company held on July 25, 2017, the Board has approved issue of equity shares to the existing shareholders of the Company on a rights basis (Rights Issue) up to Rs. 100/- Cr. (Rupees One Hundred Crores only) subject to all statutory and regulatory approvals as applicable. Further, the Board has constituted a Rights Committee and has authorised the Rights Committee to determine the terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the issue, and other matters which shall be decided in consultation with the Lead Manager(s) to the Rights Issue.<BR><BR>2. Subject to approval of the members of the Company, the Board of Directors have decided that each of the equity shares of the Company having a face value of Rs. 2/- each will be sub-divided into 2 equity shares having a face value of Re. 1/- each and accordingly alteration will be made in the capital clause of Memorandum of Association of the Company. The record date for sub-division of the equity shares will be announced in due course.<BR><BR>3. Subject to approval of the members of the Company, the Board has approved increase in Authorised Share Capital from the existing Rs. 20,00,00,000/-(Rupees Twenty Crores Only) to Rs. 26,00,00,000/-(Rupees Twenty Six Crores) and accordingly alteration will be made in the capital clause of Memorandum of Association of the Company. | |
| View all announcements for ELPRO INTERNATIONAL LTD. | Source: BSE India |
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback