Syndicate Bank has convened an Extraordinary General Meeting of the shareholders on January 10, 2014 at Manipal. The Bank has fixed minimum issue price at Rs 88.36 for the proposed issue of equity shares to Government of India by way of preferential allotment.
With reference to the earlier announcement dated December 03, 2013 intimating the Board’s approval for issue of equity shares of face value of Rs. 10/- each for cash at such aggregating to Rs. 200.00 Crore on preferential basis to Government of India and constitution of a Committee for determining the relevant date, fixing the issue price, number of shares to be issued and convening of EGM, Syndicate Bank has now informed BSE that:1. The Bank has convened an Extraordinary General Meeting of the shareholders on January 10, 2014 at Manipal.2. The Relevant Date is fixed as December 11, 2013.3. The Bank has fixed minimum Issue Price at Rs. 88.36 calculated in accordance with the Regulation 76(1) of SEBI (ICDR) Regulations, for the proposed issue of equity shares to Government of India by way of preferential allotment.4. Based on the "Issue Price" of Rs. 88.36, number of shares to be issued and allotted to Government of India works out to 2,26,34,676 (Two Crore twenty six Lakh thirty four thousand six hundred and seventy six only).Source : BSE
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