Vertex Securities has informed that the Board of Directors of the Company at its meeting held on February 22, 2016, has decided to issue 21,440,029 Equity Shares of face value of Rs 2 at a price of Rs 3.05 per share (i.e. a premium of Rs 1.05 per share) to 28 number of Individual Investors on preferential allotment basis, being 22.52% of the post issue equity share capital of the Company subject to the approval of the members of the Company in General Meeting by way of special resolution as required to be passed under the provisions of the Companies Act, 2013 as well as such other provisions of SEBI (Disclosure and Investor Protection) Guidelines and such other approvals, consent, sanction etc. as may be required for this purpose. This preferential allotment is consideration for acquisition of 5,717,341 equity and preference shares of Sharewealth Securities Limited representing 51.89% of its paid up capital. An Extra Ordinary General Meeting of the Shareholders of the Company through postal ballot will be convened on March 24, 2016 for this purpose.
The above information is a part of company’s filings submitted to BSE.
