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| Exchange Disseminated Time 26/05/2016 08:21:40 | | With reference to earlier letter dated May 20, 2016, Shree Renuka Sugars Ltd has now informed BSE that at the meeting of the Board of Directors of the Company scheduled on May 30, 2016, the Board will, inter-alia, subject to approval of the shareholders, consider voluntarily granting an option to the lenders of the Company to convert a part of the loans granted / to be granted to the Company into equity shares of Re. 1/- each in the Company, subject to maximum of 9,28,81,124 equity shares i.e. equivalent to 10% of the present equity share capital of the Company at a price of Rs.16.56 per equity share or the price as per the regulations prescribed by Securities and Exchange Board of India, whichever is higher. |
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