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| Exchange Disseminated Time | Gangotri Textiles Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 07, 2009, inter alia, to consider allotment of :
1. 68,39,945 Equity Shares of Rs 5/- each to M/s. State Bank of India, Main Branch, Chennai for conversion of loans outstanding.
2. 70,00,000 6.5% Redeemable Cumulative Preference Shares of Rs 100/- leach to M/s. State Bank of India, Main Branch, Chennai for conversion of loans outstanding.
3. 98,49,521 Equity Shares of Rs 5/- each to Mrs. Anita Tibrewal, a member of the
Promoter's Group for the amount brought in by her into the Company and kept as
Un-secured loan after receiving necessary approval from SEBI.
These allotments are to be made in terms of the approved Corporate Debt Restructuring Scheme. |
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