Board of Western India Shipyard approves preferential issue of shares and warrants

At meeting held on 09 December 2016

Western India Shipyard announced that the Board of Directors of the Company at the meeting held on 09 December 2016, inter-alia, approved the following :

1. The Board approved the preferential issue and allotment of upto maximum 9,25,00,000 equity shares of Rs. 2/- each at par to Bermaco Energy, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.

2. 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.

 

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