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| Exchange Disseminated Time | With reference to the earlier announcement dated August 29, 2013 regarding the Board of Directors ("Board") of the Company has approved the following in the meeting held on the August 29, 2013 subject to approval of the Shareholders of the Company and other regulatory authorities
1. Issue of Optionally Convertible Debentures- Rs. 100 crores.
2. Issue of Cumulative Redeemable Preference Shares- Rs. 200 crores
Shriram EPC Ltd has now informed BSE further while discussing the Terms and Conditions of the aforesaid allotment, the Management has decided to change the nature of instruments for the proposed preferential issue to promoters. Accordingly it has been decided to issue 3,00,00,000 Cumulative Redeemable Preference Shares of a face value of Rs. 100/- each (the “Preference Shares”) in one or more tranches at par for an aggregate subscription price of Rs. 300,00,00,000/- subject to approval of the Board, Shareholders of the Company and other regulatory authorities.
For this purpose, it has been decided to convene a Meeting of Board of Directors on October 22, 2013 to seek their approval, after which the Company shall be seeking the Shareholders’ approval. |
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