United Breweries to redeem CRPS issued to Scottish & Newcastle India

United Breweries Ltd has proposed to redeem 17,283,000 Series - A Cumulative Redeemable Preference Shares of Rs. 100 each (CRPS) issued to Scottish & Newcastle India Limited (SNIL) on April 14, 2011. In terms of the issue, the said CRPS were issued to SNIL at par on a preferential basis which are redeemable at par at the earliest on March 31, 2011 and latest by March 31, 2015 as may be mutually agreed between the Company and SNIL. The rate of dividend on the said Preference shares is 3% Cumulative payable annually.

The record date for the purpose has been fixed as March 31, 2011.

The stock was trading at Rs.477.80, down by Rs.6.50 or 1.34%. The stock hit an intraday high of Rs.480.10 and low of Rs.463.

The total traded quantity was 7678 compared to 2 week average of 65676.

Source : Equity Bulls

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