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| Exchange Disseminated Time 10/11/2016 18:09:01 | RSWM Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 10, 2016, inter alia, has approved the following;
1. The Board of Directors have approved the allotment of 4,02,153 equity shares pursuant to exercise of conversion option by the Optionally Convertible Redeemable Preference Shares (OCRPS) holders holding 88,54,111 OCRPS as per the Scheme of Amalgamation approved by the Hon’ble High Courts of Rajasthan and Madras. The said equity shares shall rank pari passu with the existing equity shares of the Company in all respects.
2. The Company have approved the redemption of 48,11,324 outstanding preference shares of Rs. 7.50 each at par aggregating to Rs. 3.61 crore and accordingly shall redeem the outstanding preference shares on February 28, 2017 which shall also be treated as record date for the purpose of redemption of OCRPS. You are requested to take note of the same.
The meeting of the Board of Directors commenced at 2.30 P.M. and concluded at 5.30 P.M. |
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