Held on 19 September 2014
Punjab National Bank announced that the Board of Directors of the Bank at its meeting held on 19 September 2014 discussed about various options of raising capital to meet Basle-Ill guidelines & also to fund the general business needs of the Bank and decided as under:- To explore the avenues for raising capital through QIP/FPO/Rights Issue.
- Allotment of Shares to Employees under Employees Stock Purchase Scheme (ESPS)/any other scheme.
- Raise Basel III compliant additional Tier-I Capital Bonds.
The Board also considered and granted in-principle approval for spilt of existing equity shares of Face Value of Rs.10/- each into 5 Equity Shares of Face Value of Rs. 2/- each.
The aforesaid actions is subject to approval of the Government of India/Share Holders/ Reserve Bank of India and such other Statutory/Regulatory authorities as applicable.
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