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Natco Pharma informs about outcome of board meeting

10 Sep 2020 Evaluate

Natco Pharma has informed that the Board of Directors of the Company at their meeting held on 10th September, 2020 has approved the following along with other items of business: Purchase of equity shares in Time Cap Overseas, Mauritius, a Subsidiary of the Company from the other shareholder Venkatachari Madhusudhan who holds 6.10% of shares, 72,710 Equity Shares of $10 face value amounting to $727,100. After this acquisition the said subsidiary will be a Wholly Owned Subsidiary (WOS) of the Company. The Company enclosed relevant Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time; Allotted 118,360 equity shares having a face value of Rs 2 each to the eligible employees under fifth tranche who had exercised their vested options under Natco Employee Stock Opt ion Scheme 2015 (NATSOP2015). The above equity shares shall rank Pari-passu with the existing equity shares of the Company in all respects. In the said NATSOP 2015 scheme the balance of 54,405 equity shares were forfeited. With the above allotment NATSOP2015 scheme completed and closed. Accordingly, the paid up share capital of the Company stand increased from 18,20,67,975 to 18,21,86,335 equity shares of Rs 2 in aggregate amounting to Rs 36,43,72,670.

The above information is a part of company’s filings submitted to BSE.

Natco Pharma Share Price

1118.95 31.25 (2.87%)
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