Uttam Sugar - Outcome of Board Meeting
Uttam Sugar Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 02, 2008, inter alia, has taken the following decision in respect of the proposed Rights Issue:
1. Issue of 64,42,250 Equity Shares of face value of Rs 10/- each to the existing Equity Share folders on Rights basis in the ratio of 1 Equity Shares for every 4 Equity Shares held by the Shareholders on the record date to be decided later.
2. The issue price of Rights Shares will be finalized at the time of fixing of record date.
3. Issue of one detachable warrant per Equity Shares allotted. Each detachable warrant shall be entitled 1 Equity Shares of face value of Rs 10/- each at a premium of Rs 40/- per shares (total price Rs 50/- per share).
Tags: Uttam Sugar