Chennai Petroleum Corporation has informed that based on the Special Resolution passed by the Shareholders of the Company as per the provisions of Section 55 of the Companies Act 2013 dated July 16, 2015 through Postal Ballot and Letter of Offer dated July 31, 2015 / Amendment to Letter of Offer dated August 11, 2015, the Committee of Directors constituted by the Board of Directors, vide resolution dated September 24, 2015, have accorded approval for allotment of 100,00,00,000 Non-convertible Cumulative Redeemable Preference Shares (NCCRP shares) of Rs 10 each for cash at par amounting to Rs 1000 crore to Indian Oil Corporation Limited on Private Placement Preferential Allotment Basis subsequent to receipt of subscription amount.
The above information is a part of company’s filings submitted to BSE.
