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| Exchange Disseminated Time | India Cements Capital Ltd has informed BSE that Securities and Exchange Board of India (SEBI), vide their letter dated May 14, 2013, approved the request of Trishul Investments Private Limited, a promoter of the Company, for the proposed offer for sale of 23.40 lakh Equity Shares of Rs. 10/- each of India Cements Capital Limited (ICCL) at a price of Rs. 2/- per share to the employees of the ICCL and India Cements group companies for compliance with minimum public shareholding requirement under Clause-40A of the Listing Agreement, Securities Contracts Regulations (Rules), 1957 and Securities Contracts (Regulation) Act, 1956, subject to the following conditions:
a. Transfer of shares to the proposed allottees is solely for the purpose of achieving minimum level of public shareholding as required under Securities Contracts Regulations (Rules), 1957 and it shall not be treated as a precedent.
b. The parties to the transaction shall ensure compliance with the applicable provision of Securities Contracts (Regulation) Act, 1956 and any other applicable law. |
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