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Universal Cables - Outcome of Rights Issue Committee Meeting

By Religare

Universal Cables Ltd has informed BSE that the Rights Issue Committee of the Board of Directors of the Company, has in its meeting held on September 07, 2015 approved the following in relation to the Issue:

1. Rights Issue Price: Rs. 51/- per Equity Share of face value of Rs. 10/- each (including premium of Rs. 41/- per Equity Share).

2. Rights Entitlement Ratio for the Issue: 1 Rights Equity Share for every 2 Equity Shares held by the Eligible Equity Shareholders as on the Record Date.

3. All the Rights Equity Shares to be issued pursuant to the Issue shall rank pari passu with existing Equity Shares of the Company.

4. Number of Rights Equity Shares Offered: 1,15,65,127

5. Issue Size : Rs. 58,98,21,477/-

6. Treatment of Fractional Entitlements: The Equity Shares are being offered on a rights basis to the Eligible Equity Shareholders in the ratio of 1 Equity Share for every 2 Equity Shares held as on the Record Date.

Story first published: Monday, September 7, 2015, 23:00 [IST]
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