Tricom India Ltd approves preferential allotment

The Board of Directors of Tricom India Ltd at its meeting held on December 09, 2015 has approved the proposal for preferential allotment of 1,37,60,000 Equity shares of Rs.2/- each, at price of Rs.2/- per equity share or at such price to be determined on the relevant date in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. ('ICDR Regulations,2009') as in force on that date, whichever is higher, subject to approval of the Shareholders of the Company through postal ballot under section 42&62 and Rule 13 of Companies (Share Capital and Debentures) Rules, 2014 and any other applicable provisions if any of the Companies Act, 2013 and the ICDR Regulations, 2009.

The Board also approved the issue of 3,68,00,000 Convertible Warrants (Warrant) of Rs.2/-, per convertible warrant, each warrant convertible into 1(one) Equity Share of face value of Rs. 2/- (Rupees Two) each at a price of Rs.2/- per share or at such price to be determined on the relevant date in accordance with the ICDR Regulations, 2009 as in force on that date, whichever is higher, subject to approval of the Shareholders of the Company through postal ballot under section 42&62 and Rule 13 of Companies (Share Capital and Debentures) Rules, 2014 and any other applicable provisions if any of the Companies Act, 2013 and the ICDR Regulations, 2009.

Shares of TRICOM INDIA LTD.-$ was last trading in BSE at Rs.1.94 as compared to the previous close of Rs. 1.89. The total number of shares traded during the day was 2001 in over 4 trades.

The stock hit an intraday high of Rs. 1.94 and intraday low of 1.81. The net turnover during the day was Rs. 3635.

Source : Equity Bulls

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