Issue equity shares on conversion of loan of Rs 4.94 crore
Rajshree Sugars & Chemicals announced that the Company proposes to obtain shareholders' approvals, by passing of special resolutions through Postal Ballot, for;1. Approving the Corporate Debt Restructuring (CDR) Scheme as approved by the CDR Cell , vide their final letter of approval dated 24 March 2014.
2. Preferential Issue of 17,66,429 equity shares at a price of Rs.28/- each (including a premium of Rs.18/-) to Rajshree Pathy, Chairperson and Managing Director and 14,28,571 equity shares at a price of Rs.28/- each (including a premium of Rs.18/-) to RSCL Properties. The aforesaid shares will be issued, after necessary approvals, by converting the unsecured loan of Rs.4,94,60,000/- brought-in by Rajshree Pathy and Rs.4,00,00,000/- brought in by RSCL Properties as promoters' contribution under CDR Scheme.
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