Denis Chem Lab Limited approves 2:11 rights issue

Denis Chem Lab Limited in their meeting held today i.e. 30th August, 2017 have considered the matter and have determined the Issue Price per Rights Equity Share, Rights entitlement ratio, fractional entitlement and have fixed the 'Record Date' for determining eligibility of the shareholders who will be entitled to get equity shares on rights basis and other terms and conditions pertaining to the Rights Issue including matters related/incidental thereto.

The record date for the rights issue is fixed as September 9, 2017. The rights entitlement ratio is Two rights equity share of Rs. 10 each for every Eleven equity shares of Rs. 10 each held by the shareholders in the company as on the record date.

The rights issue price is fixed as Rs. 84 per equity share (including a premium of Rs. 74 per rights equity share of the face value of Rs. 10 each.

The number of rights equity shares to be offered under the rights issue is 21,34,872 equity shares of Rs. 10 each and the size of the rights issue is Rs. 17,93,29,248.

Source : Equity Bulls

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