Financial Daily from THE HINDU group of publications
Saturday, Dec 18, 2004
Financial Daily from THE HINDU group of publications Saturday, Dec 18, 2004 |
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Corporate
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Preferential Allotments Devaki Hospitals ropes in two new investors Our Bureau
Chennai , Dec. 17 TWO unnamed investors are to pick up a little over 14 per cent each in Devaki Hospitals Ltd through a preferential offer. The promoters - Madras Medical Care and Health Care Pvt Ltd - will pick up around three per cent more, also through the offer, company sources told Business Line today. Devaki Hospitals has informed the BSE that the board has "recorded the vacation of office of Ms Chitra Chokalingam" as Director, consequent upon her not attending three consecutive board meetings. A resolution, approved earlier to issue 25 lakh equity shares on preferential basis to "the promoters, associates as well as prospective investors" had to be withdrawn, as there were some "technical problems", the sources said. The board of directors have approved a fresh issue of 24 lakh equity shares to promoters and prospective investors. It is through this issue that the two investors would each pick up 14 per cent stake. An EGM of shareholders is to be convened on January 20, 2005 to get their nod for the preferential issue. The price of the shares would be fixed as per SEBI guidelines, the notification to the stock exchange said.
More Stories on : Preferential Allotments | Medical Institutions & Hospitals
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