Held on 09 May 2016
Shakti Pumps (India) announced that the Board of Directors of the Company at its meeting held on 09 May 2016, inter alia, has taken the following decisions:- The Board has approved the Conversion of 15,00,000 (Fifteen lakhs Only) Compulsory Convertible Preference Shares of Rs. 100/- each held by AFHoldings into 16,36,363 (Sixteen Lakhs Thirty Six Thousand Three Hundred and Sixty Three Only ) Ordinary Equity Shares of Rs. 10/- each in the ratio of 1: 1.0909 constituting 8.90% of the paid up share capital of the Company on fully diluted basis and ranking pari passu with the existing equity shares of the Company and allotment to AFHoldings.
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