Centurion Bank of Punjab allots 78600000 equity shares

Centurion Bank of Punjab Ltd has announced that the Securities Transfer, Allotment and Grievance Redressal Committee of the Board at its meeting held on April 02, 2008, has allotted 7,86,00,000 equity shares of face value of Re 1/- each on conversion of warrants.

The said warrants were issued in terms of the Scheme of Arrangement amongst Bank Muscat S.A.O.G., Centurion Bank of Punjab Ltd (formerly known as Centurion Bank Ltd) and the shareholders of Centurion Bank of Punjab Ltd 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 in January 2004.

Source : Equity Bulls

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