At meeting held on 29 August 2015
Andhra Bank announced that the Board of Directors of the Bank at its meeting held on 29 August 2015 has approved as under:1. the preferential allotment of equity shares in favour of Government of India to the tune of Rs. 378 crore (including premium), subject to shareholders' assent at the ensuing EGM as on 23 September 2015 in consonance with the Notification dated 19 August 2015 of Ministry of Finance, Government of India;
2. to have 24 August 2015 as the Relevant Date and to fix the Issue Price as provided in the SEBI (ICDR) Regulations for preferential allotment;
3. to authorise Managing Director & CEO (Addl. Charge) and/or Executive Director (in the absence of the Managing Director & CEO) to do all such acts, deeds and things as may be necessary and expedient with regard to issue and allotment of equity shares to Government of India on preferential basis to the tune of Rs. 378.00 crore (including premium) and for fixing the issue price as provided under SEBI (ICDR) Regulations, 2009 and to do all matters incidental or ancillary thereto.
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