| Rural Electrification Corporation Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 16, 2010, inter alia, to consider and recommend to the Empowered Group of Ministers (EGoM) of the Government of India, the Floor Price relating to the proposed Follow in Public Offer (FPO) of 171,732,000 Equity Shares of the Company.
The Meeting of EGoM is scheduled to be held on February 17, 2010 when the final decision of the Floor Price is likely to be taken.
Rural Electrification Corporation Ltd has informed BSE that Empowered Group of Ministers (EGoM) of the Government of India, in its meeting held on February 17, 2010, has decided as under:
a) fixing the floor price for Further Public Offer of REC at Rs.203/- (Rupees Two Hundred Three only) per equity share.
b) Offer a discount of Rs.10/- (Rupees Ten only) per share on the above floor price to eligible employees submitting bids in the Employee Reservation Portion; and
c) The minimum bid lot has been decided as 30 (Thirty) equity shares and in multiples of 30 (Thirty) equity shares thereafter.
Further, as already intimated in the letter of January 25, 2010, the bidding for the proposed FPO issue will be under the `Alternate Book Building Procedure` as prescribed in Part D of Schedule XI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
(As Per BSE Announcement Dated on 17/02/2010) |
| With reference to the earlier annoucement dated October 16, 2009, regarding Outcome of Board Meeting, Rural Electrification Corporation Ltd has informed BSE that the pending receipt of approval of the Government of India, an Extraordinary General Meeting of the Company will be held on November 24, 2009, for obtaining the consent of members for the proposed Follow-on Public Offer by passing a Special Resolution as per Section 81(1A) of the Companies Act, 1956.
Rural Electrification Corporation Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 24, 2009, inter alia, have accorded to the following:
1. To offer, issue and allot new equity shares under the Fresh issue and to include such number and percenage of equity shares as the Offer for Sale as may be requested to be undertaken by the President of India on behalf of the Government of India, and the Fresh issue together with the Offer for Sale in the aggregate shall not exceed 20% of the pre-issue paid up capital of the Company (the "Issue"), to such person or persons, who may or may not be the shareholders of the Company, as the Board (or any duly constituted Committee thereof) may at its sole discretion decide, including eligible investors (whether residents and / or non-residents and / or institutions / incorporated bodies and / or Individuals and / or trustees and / or banks or otherwise, in domestic and / or one or more international markets) including Non-resident Indians, Foreign Institutional Investors (FIIs),Venture Capital Funds, Foreign Venture Capital Investors, State Industrial Development Corporations, Insurance Companies, Provident Funds, Pension Funds, Development Financial Institutions, bodies corporate, Companies, private or public or other entities,
authorities and employees by way of an employee reservation and to such other persons in one or more combinations thereof through a public issue in of one or more tranches and including the exercise of a green-shoe option, if any, at such price as may be determined through a book-building process under the SEBI (Issue of Capital and Disclosure Requirements) Regulations,
2009 in consultation with advisors or such persons and on such terms and conditions as may be finalized by the Board, subject to necessary provisions & approvals.
(As Per BSE Announcement Website dated on 23.10.2009)
Rural Electrification Corporation Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 24, 2009, inter alia, to offer, issue and allot new equity shares under the Fresh Issue and to include such number and percentage of equity shares as the Offer for Sale as may be requested to be undertaken by the President of India on behalf of the Government of India, and the Fresh issue together with the Offer for Sale in the aggregate shall not exceed 20% of the pre issue paid up capital of the Company (the "Issue") ,to such person or persons, who may or may not be the shareholders of the Company, as the Board (or any duly constituted Committee thereof) may at its sole discretion decide, including eligible investors (whether residents and / or non-residents and / or institutions / incorporated bodies and / or individuals and / or trustees and / or banks or otherwise, in domestic and / or one or more international markets) including Non-resident Indians, Foreign Institutional Investors (FIIs), Venture Capital Funds, Foreign Venture Capital Investors, State Industrial Development Corporations, Insurance Companies, Provident Funds, Pension Funds, Development Financial Institutions, bodies corporate, companies, private or public or other entities, authorities and employees by way of an employee reservation and to such other persons in one or more combinations thereof through a public issue ?none or more tranches and including the exercise of a green-shoe option, if any, at such price as may be determined through a book-building process under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, in consultation with advisors or such persons and on such terms and conditions as may be finalized by the Board, subject to necessary provisions & approvals.
(As Per BSE Announcement Website dated on 31.10.2009)
Rural Electrification Corporation Ltd has submitted to BSE a copy of Special Resolution passed at the Extra Ordinary General Meeting (EGM) of the Company held on November 24, 2009.
(As Per BSE Announcement Website dated on 25.11.2009) |