AI assistant
Morepen Laboratories Ltd. — Capital/Financing Update 2021
Jun 13, 2021
59389_rns_2021-06-13_90f7b307-a381-4514-bd9f-09cfba527c0d.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [92 x 841] intentionally omitted <==
==> picture [48 x 74] intentionally omitted <==
==> picture [159 x 38] intentionally omitted <==
Date: 13/06/2021
National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 Symbol: MOREPENLAB
BSE Limited Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 Scrip Code: 500288
Subject: Issue of preferential issue of securities.
Ref.: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Dear Sir/Madam,
Reference is invited towards company’s earlier announcements dated April 28, 2021, May 08, 2021 and May 20, 2021, w.r.t., issue of 5 Crore Fully Convertible Warrants and 5.85 Crore Equity Shares (collectively refer as ‘securities’) to the selected investors, on a preferential basis.
Considering substantial increase in the market price of Equity Shares of the company and ongoing discussions with the investor (Corinth Group), the investor has offered to subscribe the shares, at a price closer to prevailing market price, which is significantly higher than the current offered price. In the long term interest of all the stakeholders, the board is inclined to consider the investor proposal favourably.
In view of above, the resolution passed on 20[th] May 2021 has now become infructuous. The company would seek fresh approvals for the revised offer on finalisation of the terms with the investor.
Keeping in view of aforesaid situation, the Board of Directors of the company has decided to abandon the present preferential issue of securities offered to the promoter group entity and to the aforesaid investor.
Kindly take note of the same.
Thanking you,
Yours faithfully,
For Morepen Laboratories Limited
==> picture [66 x 68] intentionally omitted <==
VIPUL Digitally signed KUMAR SRIVASTAV by VIPUL KUMAR SRIVASTAVA Date: 2021.06.13 A 16:40:17 +05'30' Vipul Kumar Srivastava Company Secretary
Morepen Laboratories Limited
Corp. Off.: 4[th] Floor, Antriksh Bhawan, 22 K.G. Marg, New Delhi- 110 001, INDIA Tel.: +91-11-23324443, 23712025, E-mail: [email protected], Website: ww.morepen.com CIN NO. L24231 HP1984PLC006028
Plant & Regd. Off.: Morepen Village, Malkumajra, Nalagarh Road, Baddi, Distt. Solan (H.P.) -173205 Tel.: +91-1795-266401-03, 244590, Fax: +91-1795-244591, E-mail: [email protected]