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| Exchange Disseminated Time | Alps Industries Ltd has informed BSE that the company has allotted 2,69,34,146 6% Optionally Convertible Cumulative preference shares to banks/financial institutions on preferential basis at an issue price of Rs. 10/- per share in terms of CDR scheme of the company on August 22, 2012 and in terms of the approval taken from the shareholders of the company and from the stock exchanges.
As none of the allottees have exercised the option to convert the OCCPS into Equity shares within 18 months from the date of allotment i.e. latest by February 21, 2014, the OCCPS have been converted into 6% Cumulative Redeemable Preference Shares (6% CRPS) both are under Category 'B' at an issue price and face value of Rs. 10/- each instruments w.e.f. February 22, 2014, in terms of the Corporate Debt Restructuring (CDR) Scheme and terms of issue. |
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