|
| Exchange Disseminated Time | Punjab Chemicals & Crop Protection Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 10, 2012, inter alia, has considered and approved the following:
1. The Debt restructuring scheme of the Company under CDR mechanism approved by the Corporate Debt Restructuring Empowered Group on June, 2012 conveyed to the Company by Bank of Barods, Referring Instituhon, vide provisional letter of approval dated 4th and 5th July. 2012.
2. The proposal to issue Equity shares on preferential basis to Hem-Sil Trading & Manufacturing Pvt. Ltd., one of the Promoters of the Company, as per the approved Corporate Debt Restructuring (CDR) scheme for an amount not exceeding Rs. 20 crores, subject to the approval of the Members and such other approvals as may be required from Stock Exchanges where the shares of the Company are listed. The proposal is to issue 20,00,000 equity shares at a price of Rs. 100/- per share (face value of Rs 10/- per share and premium of Rs. 90/- per share).
3. The notice of Postal Ballot for seeking authorization from the shareholders of the Company by way of Special resolution for CDR scheme and approval for issuance of equity shares to the above mentioned Promoter of the Company.
|
|
|