Western India Shipyard Ltd approves preferential issue of 9.25 crore shares

The Board of Directors of the Company at the meeting held on December 09, 2016, approved the preferential issue and allotment of upto maximum 9,25,00,000 equity shares of Rs. 2/- each at par to M/s. Bermaco Energy Limited, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.

The Board further approved the preferential issue and allotment of upto maximum 3,25,00,000 share warrants carrying a right to subscribe to an equivalent number of equity shares of the face value of Rs. 2 at a price to be determined in accordance with the SEBI (ICDR) Regulations, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.

Source : Equity Bulls

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