YES Bank Limited Outcome of the Board Meeting (7748K)
August 30 2019 - 11:14AM
UK Regulatory
TIDM16ER
RNS Number : 7748K
YES Bank Limited
30 August 2019
August 30, 2019
India International Exchange IFSC The Singapore Exchange Securities
Limited Trading Limited
101 First Floor, Hiranandani Signature 2, Shenton Way #19-00
Tower, SGX Centre 1, Singapore 068804
GIFT City IFSC - 382355, Gujarat,
India
The London Stock Exchange
10, Patemoster Square,
London, EC4M 7LS
[
Dear Sirs,
Sub.: Outcome of the Board Meeting - Disclosure under Indian Listing Regulations
We wish to inform you that pursuant to the Bank having utilised
the limit available under the previously approved resolution by the
Shareholders in its meeting held on June 12, 2019 and keeping in
mind the capital requirements, the Board of Directors of the Bank
in its meeting held on August 30, 2019 has approved the
following:
1. in order to raise growth capital for the Bank, approved
increase in Authorised Share Capital of the Bank from Rs.
800,00,00,000 (Rupees Eight Hundred Crore only) divided into
3,00,00,00,000 equity shares of Rs. 2/- each aggregating to Rs.
600,00,00,000/- (Rupees Six Hundred Crore only) and 2,00,00,000
preference shares of Rs. 100/- each aggregating to Rs.
200,00,00,000 (Rupees Two Hundred Crore only) to Rs.
11,00,00,00,000 (Rupees One Thousand One Hundred Crore only)
divided into 450,00,00,000 equity shares of Rs. 2/- each
aggregating to Rs. 900,00,00,000/- (Rupees Nine Hundred Crore only)
and 2,00,00,000 preference shares of Rs. 100/- each aggregating to
Rs. 200,00,00,000/- (Rupees Two Hundred Crore only) and
consequential amendments to the existing capital clause in the
Memorandum of Association of the Bank, subject to the approval of
Reserve Bank of India and Shareholders;
The Bank would proceed with seeking approval from Reserve Bank
of India for amendment in Memorandum of Association of the Bank for
increase in the Authorised Share Capital.
2. delegated the powers with respect to raising of the capital
to the Capital Raising Committee of the Board, with respect to the
method and quantum of fund raising including preferential allotment
route subject to shareholders' approval and subject to the
applicable laws; and
3. authorized MD&CEO to negotiate term sheets with prospective private investors.
Kindly take note of the above.
The announcements made by the Bank can also be accessed at its
website www.yesbank.in
Thanking you,
Yours faithfully,
For YES BANK LIMITED
Shivanand R. Shettigar
Group Company Secretary
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ROMEBLFXKVFFBBL
(END) Dow Jones Newswires
August 30, 2019 11:14 ET (15:14 GMT)
Yes Bank. 23 (LSE:16ER)
Historical Stock Chart
From Aug 2024 to Sep 2024
Yes Bank. 23 (LSE:16ER)
Historical Stock Chart
From Sep 2023 to Sep 2024