At meeting held on 25 May 2015
Gujarat NRE Coke announced that the Board of Directors of the Company at its meeting held on 25 May 2015, inter alia, has:1. Approved increase of Authorised Share Capital of the Company from existing capital of Rs. 2000 crore to Rs. 2500 crore by creation of 50 crore equity shares of Rs. 10/- each, subject to approval of the members in the forthcoming AGM.
2. To issue upto 75,00,00,000 Equity Shares to any of the Lending Banks under Private Placement basis in the event of their exercising the right to convert their respective Term Loan / WCTL / FITL outstanding in accordance with terms and conditions of letter of Approval dated March 22, 2014 as issued by Corporate Debt Restructuring Empowered Group and as per Section 42 and other provisions of Companies Act 2013 and other related regulations, subject to approval of the members in the forthcoming AGM.
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