Centurion Bank of Punjab Ltd has informed that the Board of Directors of the Bank at its meeting held on February 25, 2008, to consider and approve the swap ratio in relation to the proposed merger of Centurion Bank of Punjab Ltd with HDFC Bank Ltd. The Board approved the share swap ratio as determined in the Joint Valuation Report dated February 25, 2008 of M/s. Dalal & Shah, Chartered Accountants and Ernst & Young Pvt. Ltd., (Joint Valuation Report) and the issuance of 1 (one) equity share of Rs 10/- each of HDFC Bank Ltd for every 29 (twenty-nine) equity shares of Re 1/- each held in Centurion Bank of Punjab Ltd.
In terms of the Scheme of Arrangement for recapitalization for restructuring of the Bank approved by the RBI and the relevant High Courts in 2004, the lock-in on shares and warrants issued to Sabre Capital and its nominees has been released.
In terms of the Scheme of Arrangement for recapitalization for restructuring of the Bank approved by the RBI and the relevant High Courts in 2004, the lock-in on shares and warrants issued to Sabre Capital and its nominees has been released.
No comments:
Post a Comment