RCom pledges 10.4 crore shares to Axis Trustee Services

Reliance Communications Ltd has pledged an additional 10.4 crore shares, amounting to 4.18 per cent stake, to Axis Trustee Services.
With this, the total number of pledged shares to Axis Trustee Services now stands at 60.85 crore or 24.45 per cent stake.
The shares were pledged on February 1, 2017, according to a BSE filing.
Prior to the latest development, RCom had 50.45 crore shares or 20.27 per cent stake pledged with Axis Trustee.
"We wish to clarify that we don't hold any beneficial interest in the shares and the shares have been pledged in our capacity of Security/Debenture Trustee...," the filing added.

Reliance Communications has informed BSE that its Board of Directors will meet on February 11, 2017, to consider and approve the unaudited financial results of the company for the quarter and nine months ended December 31, 2016.