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| Exchange Disseminated Time | Gangotri Textiles Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2009, inter alia, has approved the following:
1. Allotment of Cumulative Redeemable Preference Shares: -
The Board of Directors have approved allotment of 20,42,000, 6.5% Cumulative Redeemable Preference Shares of Rs. 100/- each to the following lenders towards conversion of additional Working Capital Term Loan sanctioned by them.
- Name of the Bank: State Bank of India
No. of CRPS to be issued (Rs. 100/- each): 14,96,000
- Name of the Bank: State Bank of Hyderabad
No. of CRPS to be issued (Rs. 100/- each): 3,31,000
- Name of the Bank: Corporation Bank
No. of CRPS to be issued (Rs. 100/- each): 2,15,000
2. Allotment of 67,84,261 Equity Shares of Rs. 5/- each to the Lenders:
Pending In-principle approval from regulatory authority, the allotment of 67,84,261 Equity Shares of Rs. 5/- each to the Lenders has been deferred.
3. Allotment of 97,69,335 Equity Shares of Rs. 5/- each to the Promoter/ Associates
Pending In-principle approval from regulatory authority, the allotment of 97,69,335 Equity Shares of Rs. 5/- each to the Promoters Associates has been deferred. |
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