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| Exchange Disseminated Time 30/05/2016 16:48:50 | Shree Renuka Sugars Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2016, has approved, subject to the approval of the shareholders, voluntarily granting of an option to the lenders of the Company to convert a part of the loans granted / to be granted to the Company into equity shares of Re. 1/- each in the Company, subject to maximum of 9,28,81,124 equity shares i.e. equivalent to 10% of the present equity share capital of the Company at a price of Rs. 16.56 per equity share or the price as per the regulations prescribed by Securities and Exchange Board of India, whichever is higher. The approval of the shareholders, inter-alia, for this purpose will be sought through postal ballot.
The aforesaid board meeting commenced at 2 p.m. and concluded at 4.15 p.m. |
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