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| Exchange Disseminated Time 13/02/2017 18:30:31 | With reference to the earlier letter dated February 07, 2017 and pursuant to approval of Special Resolution for conversion of Loan into Equity under SDR passed by the Shareholders through Postal Ballot on February 10, 2017, Jaiprakash Power Ventures Ltd has now informed BSE the Board of Directors have approved Private Placement Offer Letter (PAS-4) for issuance and allotment of 305.80 crore Equity Shares to Lenders on preferential basis to the Lenders to the extent of 51% of the post issue extended Equity Share Capital, by conversion of part of their outstanding loans into Equity Shares, pursuant to implementation of SDR.
Issuance and allotment of Equity Shares of the face value of Rs.10/- each shall be done at Rs.10/- each (i.e. the conversion price as determined in terms of RBI circular dated June 08, 2015).
The Board authorized Stakeholders' Relationship Committee for allotting Equity Shares to the Lenders pursuant to implementation of SDR in terms of applicable laws, regulations and RBI circulars.
The Board Meeting commenced at 4 P.M. and concluded at 6.05 P.M. |
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