Held on 05 August 2017
Rane (Madras) announced that the Board of Directors of the Company at its meeting held on 05 August 2017 approved the following -
Preferential issue securities to Rane Holdings (belonging to the Promoter and promoter group):
(a) 10,96,892 equity shares of face value of Rs.10/- each, fully paid up, for cash, at a price of Rs.547/- each;
(b) 3,65,630 warrants of face value of Rs.10/- each, for cash, at a price of Rs. 547/- each, convertible into 3,65,630 Equity shares of face value of Rs.10/- each, fully paid up at a price of Rs. 547/- per share at any time after the date of allotment but on or before the expiry of 18 months from the date of allotment.
Convening of an EGM of the members on 01 September 2017 for the aforementioned preferential issue of equity shares and warrants. The relevant date for the preferential issue shall be Thursday, 02 August 2017.
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