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Stake Sale
Asian Oilfield Services Limited to consider fund raising on Feb 22, 2017
Posted On : 2017-02-18 23:21:59( TIMEZONE : IST )
A meeting of the Board of Directors of Asian Oilfield Services Limited is scheduled to be held on Wednesday, February 22, 2017 to consider
various options for raising of funds, including issue of equity shares on preferential basis, in accordance with Sections 42 and 62(1)(c) of the Companies Act, 2013 and all other applicable provisions, if any, (including any statutory modification(s) or re-enactments thereof for the time being in force), Memorandum and Articles of Association of the Company, SEBI (LODR), Listing Agreement entered into by the Company with Stock Exchanges where the Company's shares are listed and in accordance with the Provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and also as may be required, to fix the date, time and venue of the Extra Ordinary General meeting of the members of the company for their approval to the funds proposed to be raised.
The Board will consider conversion of 25,00,000 Warrants held by Oilmax Energy Pvt. Ltd. into 25,00,000 shares of face value of INR 10/- per share and issue price of INR 80/- per share (including a premium of INR 70/- per share). To consequently consider allotment of the said equity shares to Oilmax Energy Pvt. Ltd.
The Board will consider and if thought fit, to pass with or without modification a suitable Employee Stock Option Plan (ESOP) 2017 for the employees of the Company and to do further actions required in implementation of this ESOP 2017. 4. To consider and appoint two Additional Directors on the Board of the Company.
Pursuant to applicable provisions of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in securities of the Company shall remain closed from February 20, 2017 to February 24, 2017(both days inclusive) for the Directors, Officers and all the designated Employees of the Company for prevention of insider trading.
Shares of ASIAN OILFIELD SERVICES LTD. was last trading in BSE at Rs.168.25 as compared to the previous close of Rs. 157.8. The total number of shares traded during the day was 310700 in over 2191 trades.
The stock hit an intraday high of Rs. 169.3 and intraday low of 161.1. The net turnover during the day was Rs. 51872774.