Held on 20 February 2015
With reference to the earlier letter dated 04 February 2015, informing that the Board of Directors of the Bank considered and approved raising of additional equity capital by conversion of entire Perpetual Non-Cumulative Preference Shares (PNCPS) of Rs. 1617.00 crore (161,70,00,000 PNCPS of the face value of Rs. 10.00 each) held by Government of India (GOI), into equity shares to be issued and allotted to GOI on Preferential Basis, at such conversion price including premium as may be determined as per SEBI ICDR Regulations subject to approval of Shareholders and other statutory authorities as may be required. Board of Directors had also fixed 20 February 2015 as the Relevant Date for the purpose of determining the Conversion Price as per SEBI (ICDR) Regulations, 2009. Further, an Extra-Ordinary General Meeting (EGM) of shareholders was also fixed to be held on 24 March 2015 to consider and pass the necessary Special Resolution.Further to above, Central Bank of India announced that Capital Raising Committee of the Board at its meeting held on 20 February 2015 being the Relevant Date, has fixed the conversion price of Rs.105.09 per equity share (including premium of Rs.95.09 per equity share) determined as per Regulation 76(1) of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. Total no. of shares to be offered to Government of India will be, upto 15,38,68,113 equity shares.
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