SHRIRAM EPC LTD. - Outcome of Board Meeting
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| 10 Apr 2015 | |
| Shriram EPC Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 10, 2015, inter alia, has discussed and approved:<BR><BR>1. Conversion of the funded interest term loan to the maximum of Rs. 313 Crores of the CDR Lenders into equity shares of the Company. CDR Lenders refers to the lenders of the Company whose loans are restructured under the Corporate Debt Restructuring (CDR) package;<BR><BR>2. Issue of equity shares in lieu of the sacrifice amount to the maximum of Rs. 185 Crores to the CDR lenders.<BR><BR>3. Issue of equity shares of the Company on preferential basis to the promoters, Shriram Industrial Holdings Ltd (SIHL) to the extent of Rs. 389 Crores and use of proceeds from such issuance towards redemption of cumulative redeemable preference shares and the repayment of the unsecured loan. <BR><BR>4. Other related amendments to the memorandum of association and articles of association of the Company. | |
| View all announcements for SHRIRAM EPC LTD. | Source: BSE India |
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