Brief: Mandhana Industries To Reduce Existing Share Capital Under Resolution Plan

GB Global

06/12/2018 09:19

Dec 6 (Reuters) - Mandhana Industries Ltd  MAND.NS :
    * UNDER RESOLUTION PLAN, EXISTING SHAREHOLDING OF EACH
SHAREHOLDER
TO BE REDUCED TO 1/10TH BY REDUCTION IN NUMBER OF SHARES
    * UNDER RESOLUTION PLAN,RP TO CONTINUE AS MANAGEMENT TILL
FORMATION TEXTILES RECONSTITUTES BOARD, TAKES CONTROL OVER
MANAGEMENT
    * UNDER RESOLUTION PLAN, CO TO ISSUE SHARES ON PREFERENTIAL
BASIS
TO FTL, & TO FINANCIAL CREDITORS TO CONVERT PART DEBT INTO
EQUITY

Source text: http://bit.ly/2BTQdFT
Further company coverage:  MAND.NS 

 ((Reuters.Briefs@thomsonreuters.com;))