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| Exchange Disseminated Time 20/09/2016 12:05:14 | Den Networks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 20, 2016, inter alia, have transacted the following;
1. Issue and allotment of 1,58,26,039 equity shares on a preferential basis, of face value of Rs. 10/ each to affiliates of the Goldman Sachs Group, Inc. who form part of the persons belonging to the Non Promoter Category subject to all the requisite statutory approvals and execution of necessary agreements.
The Board has also approved the issue price of Rs. 90/- per equity share (including premium) for the Preferential Allotment in accordance with chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
With the aforesaid allotment, the holding of affiliates of the Goldman Sachs Group. Inc. will go up from 17.79% to 24.49% (approx.). The total allotment consideration will be Rs. 142.43 Crores (approx.).
2. To convene an extraordinary general meeting of the company to obtain shareholders' approval on October 14, 2016 for the proposed Preferential Allotment.
The Board Meeting was concluded at 11.35 A.M. |
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