MEGA NIRMAN & INDUSTRIES LIMITED : WITHDRAWS PROPOSED RIGHTS ISSUE

• Company withdraws application and Draft Letter of Offer (DLOF) for proposed Rights Issue. • Decision taken due to proposed review and reconsideration of objects and utilisation of proceeds, as well as overall structure and terms. • Board may consider undertaking a Rights Issue afresh in due course, with modifications as necessary. • Appropriate disclosure will be made to Stock Exchange and shareholders when a decision is taken. Impact: Neutral (Administrative withdrawal of a proposed fundraising, no immediate financial impact)

Mega Nirman and Industries Ltd

Open attachment

← Back to feed