SAKTHI SUGARS LTD. - Outcome of Allotment Committee Meeting
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| 25 Mar 2014 | |
| Sakthi Sugars Ltd has informed BSE that the Allotment Committee of Directors of the Company at its meeting held on March 25, 2014 has allotted in demat form 5,94,05,940 fully paid-up Equity Shares of Rs. 10 each at a price of Rs. 30.30 per share (including premium of Rs. 20.30 per share) to ABT Limited, a company belonging to the Promoters Group, on preferential basis against the sum of Rs. 180 crores brought in by the said allottee, in terms of the CDR Scheme approved by the CDR Empowered Group and as approved by the members by special resolution passed through postal ballot on March 20, 2014.<br/><br/>The equity shares allotted as above will rank pari passu with the existing equity shares of the Company in all respects.<br/><br/>Further the Company has informed that, after the above allotment, ABT Limited's shareholding in the Company is 70.12% of the paid up capital of the Company. In view of this, the Company has become a subsidiary of ABT Limited. | |
| View all announcements for SAKTHI SUGARS LTD. | Source: BSE India |
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