Epsom Properties Ltd withdraws preferential issue

The Board of Directors of Epsom Properties Ltd at its meeting held on September 06, 2014, has considered the letter dated August 25, 2014 received from M/s. Chase Perdana Sdn Bhd belonging to the promoter group thereby informing that due to unavoidable reasons and circumstances beyond their control relating to the proposed contracts, they are unable to bring in funds towards the preferential issue; that they have requested the Company to initiate steps to withdraw the preferential issue and communicate the decision to SEBI, Stock Exchange and other concerned authorities.

In view of the above, the Company inform that treat the proposal to offer, issue and allot 50,00,000 equity shares of Rs. 10/- each to M/s. Chase Perdana Sdn Bhd belonging to the promoter group by way of preferential issue as withdrawn.

Source : Equity Bulls

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