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BSE SENSEX
83,478.45
+530.22
+0.64 %
Corporate Announcement
Security Code
500183
Company
HFCL Ltd
Exchange Received Time
07/01/2019 19:29:16
Exchange Disseminated Time
07/01/2019 19:29:21
Time Taken
00:00:05
Outcome of Board Meeting |
01/07/19 19:29
This is to inform you that the Board of Directors of the Company at its Meeting held on 7th January, 2019 have approved redemption of 60,37,500, 6.5% Cumulative Redeemable Preference Shares (CRPS) of Rs.100/- each at par aggregating to Rs.60.38 Crore as per the terms of CRPS. Out of 60,37,500 CRPS, 48,75,000 CRPS shall be redeemed on 18th January, 2019 and balance 11,62,500 CRPS shall be redeemed on 31st March, 2019. The Board of Directors has fixed 17th January, 2019 as the Record Date to ascertain the preference shareholders who are entitled for the redemption of their shareholding as required under Regulation 42 of SEBI Regulations. Post redemption there will not be any issued preference share capital in the Company. Since on redemption, shares will get extinguished, listing of CRPS at NSE will also automatically be discontinued.
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