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Satra Properties allots shares on merger
Posted On : 2007-09-19 03:50:49( TIMEZONE : IST )
Satra Properties India Ltd has announced that the Board of Directors of the Company at its meeting held on September 19, 2007, inter alia, has transacted the following business:
1. Pursuant to the Order of the Hon'ble High Court, Mumbai approving the Scheme of Amalgamation, the Board of Directors has allotted 3,71,92,250 Equity Shares of the Face Value of Rs 2/- each to the Shareholders of Om Housing Company Pvt Ltd (Transferor Company).
2. Pursuant to the Order of the Hon'ble High Court, Mumbai approving the Scheme of Amalgamation, the Board of Directors has allotted 74,00,000, 8% Redeemable Cumulative Preference Shares of the Face Value of Rs 10/- each to the Shareholders of Om Housing Company Pvt Ltd (Transferor Company).
Further, the Shares issued to the Shareholders of Om Housing Company Pvt Ltd (Transferor Company) shall be subject to Lock-in.
Accordingly, the Post Issue Paid up Capital of the Company will be 5,17,86,000 Equity Shares of the Face value of Rs 2/- each and 74,00,000 8% Redeemable Cumulative Preference Shares of the Face value of Rs 10/- each.
