The Hindu Business Line : AP Tanneries EGM on Jan 18

HYDERABAD: Andhra Pradesh Tanneries Ltd has informed the stock exchanges on Monday that an extraordinary general meeting of the company would be held on January 18 to seek the consent of shareholders for the proposed preferential offer to promoters.

The company proposes to issue 16.26-lakh equity shares of Rs 10 each for cash at par or at such price arrived at in accordance with preferential issue guidelines issued by the SEBI which ever was higher to the promoters. The company also proposes to issue 20-lakh non-cumulative redeemable preference shares of Rs 10 each aggregating to Rs 2 crore to the promoters.

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