|
| Exchange Disseminated Time 08/09/2016 15:41:47 | With referenec to the earlier letter dated September 07, 2016 intimating the approval accorded by the Capital Raising Committee of the Bank to open the QIP and of the proposed meeting of the Capital Raising Committee of the Bank on September 12, 2016. Yes Bank Ltd has now clarified that the said date has been intimated in compliance with recently notified regulations, namely Regulation 29(1) read with Regulation 29(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, which requires a notice of at least two clear working days for meetings of the board of directors for determination of issue price in connection with a fund raising.
Consequently, in compliance with the above mentioned Regulations, the Issue Price for the QIP cannot be determined by the Bank prior to the aforesaid meeting on September 12, 2016. Accordingly, the Bank is required to keep the issue open till September 09, 2016. |
|
|