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| Exchange Disseminated Time | Alps Industries Ltd has informed BSE that the Company has allotted 26,934,146, 6% Optionally Cumulative Convertible Preference Shares under category ‘B’ for the leaders of unsecured term loans at an issue price and face value of Rs. 10/- each instrments on August 22, 2012, in terms of the approval taken from the shareholder of the Company.
The Company has further informed that this is in terms of the "In-principle" approval for preferential allotment under Clause 24(a) of the Listing Agreement for 2,75,20,000 quasi equity instruments (6% Optionally Cumulative Convertible Preference Shares under Category 'B') from Stock Exchanges. |
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