UCO BANK - Outcome of Board Meeting - Conversion of Perpetual Non-Cumulative Preference Share Capital (PNCPS) held by Government of India into equity shares
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| 09 Jan 2014 | |
| UCO Bank has informed BSE that Govt. of India vide their communication dated January 06, 2014 conveyed their approval for conversion of Perpetual Non-Cumulative Preference Shares (PNCPS) held by the Government of India to the tune of Rs. 1823 Crore into equity shares in favour of Govt. of India, subject to approval of shareholders, SEBI and other authorities.<br/><br/>The Board of Directors of the Bank at their meeting held on January 07, 2014 approved above proposal for conversion of PNCPS aggregating to Rs. 1823 Crore by issue of equity shares on preferential basis to Government of India at a price as may be determined in accordance with Regulation 76(1) of SEBI ICDR Regulations, 2009, subject to approval of SEBI, RBI and shareholders. | |
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