Shilpi Cable Technologies: Outcome of board meeting

Nov 09, 2013, 09.13 AM IST

Shilpi Cable Technologies at its meeting held on November 08, 2013, has considered the preferential issue of 1,18,00,000 equity shares at a price of Rs 30 per share or such higher issue price as may be determined as per the SEBI (ICDR) Regulations, 2009.

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Shilpi Cable Technologies: Outcome of board meeting

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Shilpi Cable Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 08, 2013, inter alia, has transacted the following:- With regard to the decision of the preferential issue of shares, though the board in its meeting held on August 26, 2013, has been approved the preferential issue of 1,18,00,000 equity shares at a price of Rs. 30/- (Rupees thirty only) per share or such higher issue price as may be determined as per the SEBI (ICDR) Regulations, 2009 and subsequently the approval of the shareholders of the company was also obtained by the company in the Annual General Meeting held on September 25, 2013. However the aforesaid shares could not be allotted to the proposed allotees within the time limit prescribed as per the SEBI (ICDR) Regulations, 2009. Hence the board has given their fresh Approval of subject to the fresh Shareholder's approval.Source : BSE

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