Centurion Bank of Punjab allots shares on conversion of warrants

Centurion Bank of Punjab Ltd has announced that the Securities Transfer, Allotment and Grievance Redressal Committee of the Board at its meeting held on March 30, 2007, has allotted 32,00,000 Equity Shares of face value of Re 1/- each for cash at a premium of Rs 3/- per share aggregating to Rs 1,28,00,000/- on conversion of warrants.

The said warrants are issued in terms of the Scheme of Arrangement amongst Bank Muscat S.A.O.G, the Bank (formerly Known as Centurion Bank Ltd) and the shareholders of the Bank pursuant to Sections 391 to 394 of the Companies Act, 1956, which was duly approved by the shareholders, the High Courts of Mumbai (Goa Bench) and Karnataka as well as by the Reserve Bank of India.

Source : Equity Bulls

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