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Scan Steels: Outcome of Board Meeting

Scan Steels at its meeting held on August 12, 2015, have considered, adopted and approved the allotment of 1,28,49,605 (One Crore Twenty Eight Lakhs Forty Nine Thousand Six Hundred and Five Only) Non-cumulative Redeemable Preference Shares (

August 12, 2015 / 01:20 PM IST
 
 
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Scan Steels Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 12, 2015, inter alia, have considered, adopted and approved the following:1. Allotment of 1,28,49,605 (One Crore Twenty Eight Lakhs Forty Nine Thousand Six Hundred and Five Only) Non-cumulative Redeemable Preference Shares ("NCRPS") of Rs. 10/- (Rupees Ten) each at a premium of 30/- (Rupees Thirty) per NCRPS to Promoter Group (6,968,715 Non-cumulative Redeemable Preference Shares) and to General Investors not Forming part of Promoter Group (5,880,890 Non-cumulative Redeemable Preference Shares) for an aggregate amount of Rs. 51,39,84,200 (Fifty One Crore Thirty Nine Lakhs Eighty Four Thousand Two Hundred Only) in compliance with the provisions of Sections 42, 55 & 62, of Companies Act, 2013 ("Act") read with Companies (Share Capital & Debentures) Rules, 2014.Post allotment the paid up share capital of the Company shall be:- Rs. 44,35,23,000 (Forty Four Crore Thirty Five Lakhs Twenty Three Thousand) divided in to 4,43,52,300 (Four Crore Forty Three Lakhs Fifty Two Thousand Three Hundred) Equity Shares of Rs. 10/- (Rupees Ten only) each.- Rs. 12,84,96,050 (Twelve Crore Eight Four Lakhs Ninety Six Thousand Fifty Only) divided in to 1,28,49,605 (One Crore Twenty Eight Lakhs Forty Nine Thousand Six Hundred and Five Only) Non-cumulative Redeemable Preference Shares ("NCRPS") of Rs. 10/- (Rupees Ten) each.Source : BSE

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first published: Aug 12, 2015 01:20 pm

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