|
| Exchange Disseminated Time | Oricon Enterprises Ltd has informed BSE that in terms of Scheme of Amalgamation as approved by Hon’ble High Court of Judicature, Bombay vide its order dated August 27, 2010 the Company allotted 1,09,00,000 10% Compulsorily Convertible Preference Shares (CCPS) of Rs. 10/- each. The said CCPS are to be converted into Equity Shares.
Accordingly the Board of Directors of the Company at their meeting held on December 30, 2014 has approved allotment of 5,45,00,000 Equity Shares of Rs. 2/- each.
Further in terms of the Scheme of Amalgamation 25% of new Equity Shares arising on account of conversion of 10% Compulsorily Convertible preference shares were to be kept under lock in for period of 3 (three) years from the date of listing of new shares at Bombay Stock Exchange Limited.
Accordingly out of 5,45,00,000 Equity Shares, 25% i.e. 1,36,25,000 Equity Shares will be kept under lock-in for a period of 3 (three) years from the date of listing. |
|
|