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| Exchange Disseminated Time | With reference to earlier announcement dated February 20, 2014 regarding Board's approval for preferential allotment of Equity Shares to 'Wilmar Sugar Holding Pte. Ltd.', Shree Renuka Sugars Ltd has now informed BSE that the Board at its meeting held on February 27, 2014, inter alia, gave its in-principle approval for issue of equity shares of the Company to the existing equity shareholders of the Company (including shareholders of the Company who would be holding Equity Shares pursuant to the aforesaid preferential allotment) on a rights basis (Rights Issue) at an Issue price not exceeding Rs. 16/- per Share to raise an amount not exceeding Rs. 7,254 million, subject to the applicable laws and regulatory approvals.
The terms & conditions of the Rights Issue, the entitlement ratios, Record Date, timing of the Rights Issue and other necessary details shall subsequently be decided by the Board/Committee of the Board constituted for this purpose after the completion of the aforesaid preferential allotment and the open offer announced by Wilmar Sugar Holdings Pte. Ltd., SRS Investments Pte. Ltd. and persons acting in concert with them in terms of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. |
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