Yes Bank Seeks EGM approval for preferential issue

Yes Bank Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Bank will be held on December 04, 2007, inter alia, to offer, issue and allot upto 1,47,00,000 (One Crore forty Seven Lac) fully paid up Equity Shares of a face value of Rs 10/- (Rupees Ten) each of the Bank to Orient Global Tamarind Fund Pte Ltd ("Orient Global Tamarind") at a price of Rs 225/- per share (Inclusive of a premium of Rs 215/- per share) or the minimum issue price calculated in accordance with Chapter XIII (Guidelines For Preferential Issues) of the SEBI (Disclosure and investor Protection) Guidelines, 2000, whichever is higher, On a preferential allotment basis, subject to necessary provisions & approvals.

Source : Equity Bulls

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