Yes Bank EGM approves issue of shares to Swiss Reinsurance Company

Yes Bank Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Bank held on November 20, 2006, have approved the proposal to issue and allot upto 1,00,00,000 Equity shares of Rs 10/- each of the Bank at a price of Rs 120/- per share (inclusive of a premium of Rs 110/- per share) to Swiss Reinsurance Company subject to receipt of Regulatory approvals. The members have also authorised the Board of Directors (including a Committee thereof) to take all steps incidental or ancillary in this connection.

Source : Equity Bulls

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