Fixes entitlement ratio of 1:1 and issue size of upto Rs 4 crore
Coastal Corporation announced that the Management Committee as authorized by the Board of Directors in their Meeting held on 01 February 2016, has approved the following pertaining to the Right Issue:In consultation with the Lead Manager to the Right Issue, the Management Committee at its meeting held on 08 December 2016 has decided to issue equity shares on Right basis in the ratio of 1:1 i.e. 1 Equity Share for every 1 Fully Paid Up Equity Share held as on the Record Date to be fixed at a later date. The issue size for the upcoming Right Issue will be upto Rs. 4 crore.
Further, terms of the Rights Issue including the issue price, book closure or record date, timing of the issue etc will be decided later, in consultation with the Lead Managers to the Right Issue.
Such details shall be informed and/ Or announced in due course as and when decided or required, as per applicable statutory provisions.
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