United Bank of India calls for Board Meeting on Feb 10, 2015

A meeting of the Board of Directors of United Bank of India will be held on February 10, 2015, to consider and approve the unaudited financial results of the Bank for the quarter and 9 month period ended December 31, 2014.

The Board will approve preferential allotment of equity to the Government of India under Chapter VII of the SEBI ICDR Regulations 2009 by conversion of 52523 nos. Perpetual Non-cumulative Preference Shares of Rs. 100,000/- each aggregating Rs. 525.23cr. subject to necessary regulatory clearances.

The Board will approve preferential allotment of equity to the Government of India under Chapter VII of the SEBI ICDR Regulations 2009 by issue of fresh equity shares aggregating up to Rs. 1000 cr. subject to necessary approval from the Government and regulators.

The Board will also consider proposal to issue and allot up to Rs. 500cr. BASEL - III compliant Perpetual Debt Instruments in the form of subordinated, non-convertible, non-cumulative, listed, Additional Tier-1 bonds of Rs. 10,00,000/- each.

Shares of UNITED BANK OF INDIA was last trading in BSE at Rs.40.25 as compared to the previous close of Rs. 40.65. The total number of shares traded during the day was 24685 in over 280 trades.

The stock hit an intraday high of Rs. 40.8 and intraday low of 39.9. The net turnover during the day was Rs. 993719.

Source : Equity Bulls

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