General Announcement::PREFERENTIAL ISSUE OF EQUITY SHARES TO LIFE INSURANCE CORPORATION OF INDIA (LIC)

Issuer & Securities

Issuer/ Manager
CANARA BANK
Securities
CANARABANKUS$250M6.365%N211128 - XS0276148847 - 7TSB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
31-Mar-2015 16:41:56
Status
New
Announcement Sub Title
PREFERENTIAL ISSUE OF EQUITY SHARES TO LIFE INSURANCE CORPORATION OF INDIA (LIC)
Announcement Reference
SG150331OTHRY0Z0
Submitted By (Co./ Ind. Name)
B NAGESH BABU
Designation
ASSISTANT GENERAL MANAGER & COMPANY SECRETARY
Effective Date and Time of the event
31/03/2015 17:00:00
Description (Please provide a detailed description of the event in the box below)
As decided by the Board of the Bank (orders dated 05.03.2015), the Bank had taken up with M/s Life Insurance Corporation of India (LIC) for their subscribing to the equity shares of the Bank on Preferential Allotment.

M/s Life Insurance Corporation of India (LIC), vide their letter dated 20.03.2015, informed their in-principle approval to the Bank for subscribing to the extent of 4,00,00,000 equity shares at price as per SEBI(ICDR) Regulations, 2009 subject to the total exposure not exceeding 15 % of post issue capital of the Bank at any point of time.

The Managing Director & CEO, as per the authority delegated by the Board, has approved the following :

- To conduct the Extraordinary General Meeting of the Bank on 30.04.2015 for obtaining the consent of the shareholders to make preferential allotment of 4,00,00,000 equity shares of the Bank to M/s Life Insurance Corporation of India (LIC);

Accordingly, in terms of SEBI-ICDR Regulations, 31.03.2015 is the Relevant Date for the purpose of determination of Pricing of Equity Shares at which the shares can be offered to M/s Life Insurance Corporation of India (on Preferential Allotment).

Copy of the announcement is attached.

Attachments

CanaraLIC31032015.pdf
Total size =272K