India Steel Works allots shares, preference shares

India Steel Works Ltd has announced that at the Board Meeting of the Company held on July 23, 2010, the Board of Directors have made the allotments of 2,98,10,925 equity shares to a Investor and a Secured Lender of the Company under a preferential allotment.

The company also allotted 3,57,497 Cumulative Preference shares of Rs. 10 each carrying a dividend of 0.01% redeemable in 3 annual installments (25%,25% and 50%) during 2017-2019.

Further the Company has informed that the Voluntary Retirement Scheme offered by the Company to its workers at its Turbhe plant was accepted by Memorandum Settlement with the Trade Union of the workers, was approved and noted by the Board of the Company.

Source : Equity Bulls

Keywords