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| Exchange Disseminated Time | Panchmahal Steel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 25, 2013, inter alia, have:
- Issued and allotted 1,73,869 Equity Shares of Rs. 10/- each as fully paid-up at a share premium of Rs. 152.75 per share aggregating to Rs. 2,82,97,180/- to M/s. Gujarat Industrial Investment Corporation Limited (GIIC Limited).
The paid-up capital of the Company was Rs. 18,90,44,600/- which on such allotment, has increased to Rs. 19,07,83,290/- divided into 1,90,78,329 fully paid-up equity shares of Rs. 10/- each.
The aforesaid issue and allotment of Equity Shares to Gujarat Industrial Investment Corporation Limited (GIIC Limited) has been made in accordance with the Order dtd. August 27, 2013 passed by the Hon’ble High Court of Gujarat in OJ Appeal No. 1 of 2009 in Company Petition No. 3 of 2008 with Civil Application No. 218 of 2010 in OJ Appeal No. 1 of 2009 under the Scheme of Compromise and/or Arrangement between the Company and its Secured Lenders & Equity Shareholders. |
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