| Reduction of Share Capital of Monnet Ispat & Energy Limited. |
Trading members of the Exchange are hereby informed that, Monnet Ispat & Energy Limited has fixed the Record Date for the purpose of Reduction & Consolidation of Share Capital of the company pursuant to the order passed by the National Company Law Tribunal at Mumbai.
|
COMPANY NAME &
CODE
|
RECORD DATE
|
PURPOSE
|
NO DEALINGS FROM
DATE &
SETT. NO.
|
|
Monnet Ispat & Energy Limited.
(513446)
|
30/08/2018
|
As per the Resolution Plan approved by Hon’ble NCLT and under provision of Insolvency & Bankruptcy Code 2016
Reduction & Consolidation of Share Capital:
The paid up and subscribed equity share capital of the company held by non-promoter shareholders will be reduced on a proportionate basis to 33.06% of its original value without any payout i.e. one equity share of the company of Rs. 10 /- each will be reduced to Rs. 3.30/- each.
Subsequently, the equity shares with reduced face value of Rs. 3.30/- per equity share will be consolidated into equity shares of Rs. 10/ each.
Accordingly, non-promoter shareholder of the company holding 100 equity shares will be entitled to receive 33 equity shares of the company upon the reduction and consolidation of the equity share capital of the company.
Also, there will be 100% extinguishment of equity share capital held by the existing promoters of the company.
|
29/08/2018
DR- 107/2018-2019
|
Trading Members of the Exchange are requested to take note of it.
Mangesh Tayde
Senior Manager –Listing Operations (CRD)
August 23, 2018
|