GR CABLES LTD. - Board Meeting Intimation for Meeting Scheduled To Be Held On Monday, The 22Nd Day Of January, 2024 At 6:00 P.M. To Approve The Restructuring Of Share Capital Of The Company As Per The Resolution Plan Approved By Hon'Ble NCLT Vide Order Dated 24Th March 2023.
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| 06 Jan 2024 | |
| GR CABLES LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 22/01/2024 ,inter alia, to consider and approve 1. Extinguishment of entire Equity shares held by (erstwhile) promoters and promoter group of the Company, as on the record date, without any payout, pursuant to the Resolution Plan approved by Hon'ble NCLT vide Order dated 24th March 2023. 2. Reduction/cancellation of 97.50% Equity Shares held by public shareholders as on the record date, without payment of any consideration, such that 1 (One) equity share of INR 10/- (Rupees Ten) each shall be allotted against every 40 (Forty) equity share held by them as on the record date, pursuant to the Resolution Plan approved by Hon'ble NCLT vide Order dated 24th March 2023. 3. Allotment of 80,00,000 (Eighty Lakhs) Equity shares of INR 10/- (Rupees Ten) each amounting to INR 8,00,00,000 (Rupees Eight Crores Only), on preferential basis, to the Resolution Applicants in consideration of funds infused by them in the company pursuant to the Resolution Plan approved by the Hon'ble NCLT vide Order dated 24th March 2023. | |
| View all announcements for GR CABLES LTD. | Source: BSE India |
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