Pricing of Shares on Conversion Homework Help

Pricing of Shares on Conversion

Where PCDs/FCDs/other convertible instruments are issued on a preferential basis, providing for the issuer to allot shares at a future date, the issuer should price at which the shares could be allotted in the same manner as specified for of shares allotted in lieu of warrants.

The explanatory statement to the notice of the general meeting in terms of Section 173 of the Companies Act Should contain (i) the object(s) of the preferential issue, (ii) intention of promoters/ directors/key management to subscribe to the offer, (iii) shareholding pattern before and after the offer (iv) proposed time within which allotment would be complete and (v) identity of the percentage of post-preferential issue capital that may be held by them.

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