Centurion Bank of Punjab Blog

Unofficial Centurion Bank of Punjab Blog. The information provided in this blog may or may not be correct.

Monday, September 10, 2007

Centurion Bank of Punjab allots equity shares pursuant to merger of Lord Krishna Bank

Centurion Bank of Punjab Ltd has announced that the Securities Transfer, Allotment & Grievance Redressal Committee of the Board, (a Committee duly authorized in this behalf) at its meeting held on September 10, 2007, has allotted 13,21,34,701 equity shares of Re 1/- each of the Bank ("Transferee Bank") to the shareholders of Lord Krishna Bank Ltd ("Transferor Bank") whose names were recorded in their Register of Members on the Record Date.

The equity shares were allotted in the ratio of 7 equity shares of Re 1/- each of the Transferee Bank for every 5 equity shares of Rs 10/- each held by the shareholders in the Transferor Bank as per the Scheme of Amalgamation duly sanctioned by the Reserve Bank of India in terms of Section 44A of the Banking Regulation Act, 1949.

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