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| Exchange Received Time 21/09/2017 19:09:33 Exchange Disseminated Time 21/09/2017 19:09:39 Time Taken 00:00:06 | Dear Sir,
The decisions and outcome of the Meeting of the Board of Directors of the A2Z Infra Engineering Ltd. duly held on Thursday, September 21, 2017 are as follows:-
1. A2Z's Board approves issuance of upto 8.0 Cr equity shares of Company towards One Time Settlement (OTS) of the Company's debt with its lending banks. We, A2Z Infra Engineering Ltd. hereby inform your good self and all stakeholders of the Company, that Board of Directors of Company has approved issuance of up to 8.0 Cr equity shares to its Lenders as part of One-time settlement scheme(s), envisaged to be entered into between the Company and its lending banks.
The said issuance of shares to banks shall address approx. INR 850.0 Cr. of the Company's debt which represents 74.0 % of the Company's total debt.
2. A2Z's Board approves One Time Settlement (OTS) with SICOM Ltd. a Lender of the Company.
You are requested to take the above information on record. |
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