RM World - Allotment of Shares on preferential basis

Posted By: Religare
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Reliance Broadcast Network Ltd has informed BSE that pursuant to the approval of the Shareholders in the Extraordinary General Meeting held on September 25, 2010, the Company on September 30, 2010, has allotted 1,29,50,000 equity shares of Rs. 5/- each fully paid up to various investors and 2,03,75,000 equity shares of
Rs. 5/- each fully paid up to the Promoter Group, at a price of Rs. 85/- (including a premium of Rs. 80/-) per equity share. The allotment of balance shares as approved by the Shareholders will be considered after receipt of relevant approval from FIPB.

Further the Company has informed that, the aforesaid Equity Shares shall be subject to lock-in, in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulation, 2009.

Consequent to the aforesaid allotment, the paid-up Capital of the Company stands increased to 79451170 equity shares of Rs 5/- each fully-paid.

Read more about: rm world
Story first published: Friday, October 1, 2010, 8:42 [IST]
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