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Board of Hindustan Construction Company to consider preferential issue of shares and debentures

Capital Market 

On 02 December 2016

Company announced that the Company proposes to hold a meeting of the Board of Directors of the Company on 02 December 2016, interalia, to consider the following matters:

1. To consider the offer and issue of Equity representing 24.44% of the expanded capital and also Optionally Convertible Debentures (OCDs) on Preferential Basis to be allotted collectively to the individual Lenders, as per applicable laws and extant regulations pursuant to implementation of the Reserve Bank of India (RBI) S4A Scheme as agreed by the Lenders in their Joint Lenders Forum (JLF) held on 07 September 2016 and approved by RBI's Overseeing Committee (OC) on 04 November 2016 (HCC S4A Scheme).

2. Convene an Extraordinary General Meeting of the Company for seeking shareholders' approval for the aforesaid matters.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 17:52 IST