At meeting held on 18 July 2016
Vertex Securities announced that the Board of Directors of the Company at its meeting held on 18 July 2016, inter alia, have :- Approved to issue 21,521,370 Equity Shares of face value of Rs.2/- at a price of Rs.4.20 per share (i.e. a premium of Rs. 2.20 per share) to 27 shareholders of Sharewealth Securities on preferential allotment basis by way of share swap, being 22.59% of the post issue equity share capital of the Company subject to the approval of the members of the Company in Annual General Meeting to be held on 23 August 2016, by way of special resolution as required to be passed under the provisions of the Companies Act, 2013 as well as such other provisions of SEBI (Issue of Capital & Disclosure Requirements), Regulations, 2009 and such other approvals, consent, sanction etc. as may he required for this purpose.
This preferential allotment is towards consideration for acquisition of 5,739,031 equity and fully convertible preference shares of Sharewealth Securities representing 52.09% of its paid up capital.
Powered by Capital Market - Live News
