REG - YES Bank Limited - Disclosure under Indian Listing Regulations

Yes BankAnnouncement

10/01/2020 14:35

RNS Number : 4915Z
YES Bank Limited
10 January 2020
 


 
YBL/CS/2019-20/148
 
January 10, 2020
 



India International Exchange IFSC Limited
101 First Floor, Hiranandani Signature Tower,
GIFT City IFSC - 382355, Gujarat, India


The Singapore Exchange Securities Trading Limited
2, Shenton Way #19-00
SGX Centre 1, Singapore 068804
 




The London Stock Exchange
10, Patemoster Square,
London, EC4M 7LS
 







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Dear Sirs,
 
Sub.:   Outcome of the Board Meeting held on January 10, 2020 - Disclosure under Indian Listing Regulations
 
Please take note that the Board of Directors of the Bank ("Board"), at their meeting today, have approved:
 
1.   raising of funds upto Rs. 10,000 Crore, in one or more tranches, on such terms and conditions as it may deem fit, by way of issuance of securities including but not limited through Qualified Institutions Placement (QIP)/ Global Depository Receipts (GDRs)/ American Depository Receipts (ADRs)/ Foreign Currency Convertible Bonds (FCCBs)/ or any other methods on private placement basis.
 
2.   convening of an Extra-Ordinary General meeting to obtain shareholders' approval (by way of a special resolution) in relation to the above issuance.
 
Separately, the Bank had, vide the Outcome of the Board Meeting dated December 10, 2019, informed that the Bank continues to be under discussions with Erwin Singh Braich / SPGP Holdings (collectively, "Investor") for a proposed investment in the Bank (offer validity till December 31, 2019). The Bank has received an updated proposal from the Investor extending the validity of its offer until January 31, 2020 for the Bank's consideration and further evaluation. However, the Board has decided not to proceed with the offer.
 
Further, the Bank had, vide the outcome of Board meeting dated December 10, 2019, informed that the Board is willing to favourably consider the offer of US$500 Million of Citax Holdings and Citax Investment Group and the final decision regarding allotment to follow in the next Board meeting, subject to requisite regulatory approval(s). However, the relevant conditions precedent could not be completed as on date. Hence, Citax offer will be taken up during the next round.




 
The Board Meeting commenced at 11:00 A.M. and concluded at 04:40 P.M.
 
We request you to kindly take this in your record.
 
Thanking you,
 
Yours faithfully,
For YES BANK Limited
 
 
 
Shivanand R Shettigar
Group Company Secretary




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