Corporate Action16 Sept 2026, 07:10 pm
Manoj Ceramic Modifies Preference Shares to Convertible
AI Summary
Manoj Ceramic Limited's Board of Directors has approved the modification of 1,00,000 and 1,50,000 Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) into Compulsory Convertible Preference Shares (CCPS). Each NCRPS of Rs. 100 will be converted into one CCPS of Rs. 100, convertible into one equity share of Rs. 10 face value at a premium of Rs. 90. This conversion is subject to shareholder approval at an upcoming Extra-Ordinary General Meeting (EGM) scheduled for October 15, 2026. The company has obtained consent from the preference shareholders. The Board also appointed a scrutinizer for the EGM's remote e-voting process.
Key Highlights
- Preference shares converted from NCRPS to CCPS.
- Conversion ratio is 1:1 for both principal and equity conversion.
- Shareholder approval required via EGM on October 15, 2026.
- Promoter group holds a significant portion of these shares.
- Board approved the variation of terms and shareholder consent obtained.
Price Impact
More from MCPL