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| Exchange Disseminated Time | With reference to the earlier letter dated January 18, 2016 vide which the Company had informed that the Board of Directors of the Company have approved to offer, issue and allot 2,08,650 (Two Lac Eight Thousand Six Hundred and Fifty) equity shares of Rs. 10/- each to Kalink Co. Ltd., at a rate of Rs. 640/- each by way of preferential allotment subject to the approval of Shareholders, Statutory Authorities, Regulatory Authorities or any other approval as may be required.
Steel Strips Wheels Ltd has now informed BSE that since the De-mat account of Kalink Co. Ltd. is not yet opened, which was necessary to allot the shares as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time, the above Board approval becomes infructuous. Therefore the Company will restart the process to offer, issue and allot shares to Kalink Co. Ltd. as and when the said De-mat account of Kalink Co. Ltd. is opened. |
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