Dhandapani Finance - Redemption of ROCPS
Dhandapani Finance Ltd has informed BSE that the Company has redeemed the Redeemable Optionally Convertible Preference Shares (ROCPS) amounting to Rupees Twenty Two Crores Twenty Six Lacs held by D. B. Zwirn Mauritius Trading No. 2 Ltd (DBZ) in the Company on June 30, 2008. The ROCPS had a face value of Rs 10 each and were issued and allotted to DBZ on February 12, 2007. The preference shares have been redeemed at face value of Rs 10 each.
The redemption of the ROCPS was approved by the Board of Directors of the Company at the Board Meeting held on May 26, 2008.
The ROCPS have been redeemed out of the proceeds of fresh issue of Redeemable Preference Shares (RPS) having a face value of Rs 10 each to Zwirn Pragati Capfin Pvt Ltd to the extent of Twenty Two Crores Twenty Six Lacs, for the purpose of the redemption of the existing ROCPS. The issue of the RPS was approved by the Board of Directors of the Company at its meeting held on May 26, 2008 and was approved by the shareholders of the Company at the Extraordinary General Meeting held on June 21, 2008.
Tags: Dhandapani Finance