VHCL Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 01, 2014, have decided to issue and allot 2,57,50,000 Equity shares of Rs. 2/- (Rupees Two only) each fully paid up, in one or more tranches on preferential basis.
VHCL Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 01, 2014, have subject to the approval of Shareholders, stock exchanges where the shares of the Company are listed and other relevant authorities, decided to issue and allot 2,57,50,000 Equity shares of Rs. 2/- (Rupees Two only) each fully paid up, in one or more tranches on preferential basis, to the Investors who are Non Promoters, on conversion of outstanding Unsecured Loan into Equity Shares, at a price which shall not be lower than the price determined in accordance with the provisions of Chapter VII of the SEBI (ICDR) Regulations.The Board of Directors has also decided to hold an Extra Ordinary General Meeting on December 10, 2014 for approval of shareholders for issue of shares.Source : BSE
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