***Yes Bank Ltd allotted 1,15,350 equity shares
***Centurion Bank of Punjab - Outcome of Compensation Committee Meeting
***HDFC Bank - Outcome of Board Meeting
***Punjab National Bank - PNB Upper Tier II Bond Series III
***BAG Films - Press Release
***Quantum Gold ETF lists on NSE
Yes Bank Ltd allotted 1,15,350 equity shares
Yes Bank Ltd has informed that the Bank has allotted 1,15,350 (One Lac Fifteen Thousand Three Hundred and Fifty) equity shares of face value of Rs 10/- each on February 29, 2008 under the Joining Employee Stock Option Plan - I (JESOP I).
Centurion Bank of Punjab - Outcome of Compensation Committee Meeting
Centurion Bank of Punjab Ltd has informed that the Compensation Committee of the Board at its meeting held on February 28, 2008 has allotted 90,92,453 equity shares of face value of Re.1/- each pursuant to exercise of stock options granted under the General Employee Stock Option Plan 2004.
The Committee also allotted 2,45,25,000 equity shares of face value of Re.1/- each pursuant to exercise of stock options granted under the Key Employee Stock Option Plan 2004.
Centurion Bank of Punjab Ltd has informed that the Board of Directors of the Bank at its meeting held on February 28, 2008, has taken the following decisions:
- Reaffirmed the share swap ratio for the, merger of the Bank with HDFC Bank Ltd as determined in the joint valuation report dated February 25, 2008 of M/s. Dalal & Shah, Chartered Accountants and Ernst & Young Pvt Ltd and the issuance of 1 (one) equity share of Rs.10/- each HDFC Bank Ltd for every 29 (twenty-nine) equity shares of Re. 1/- each held in Bank.
- Approved the draft Scheme of Amalgamation.
- Approved the Notice and Explanatory statement to convene an Extraordinary General Meeting on March 27, 2008 at Panaji, Goa to consider the above matters.
HDFC Bank - Outcome of Board Meeting
HDFC Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on February 28, 2008, has approved the following:
- Merger of Centurion Bank of Punjab Ltd with Bank
After considering due diligence findings, the Board reaffirmed the share swap ratio as determined in the joint valuation report dated February 25, 2008 of Ernst & Young Pvt. Ltd and M/s. Dalal & Shah, Chartered Accountants (Joint Valuation Report) and the issuance of one equity share of Rs. 10/- each of the Bank for every 29 equity shares of Re. 1/- each held in Centurion Bank of Punjab Ltd.
The Board approved the draft Scheme of Amalgamation and the Merger Agreement.
- Preferential offer to Promoters.
The Bank proposes to issue 2,62,00,220 equity shares and / or other instruments like warrants convertible into equity shares, @ Rs. 1530.13 to Housing Development Finance Corporation Ltd and / or HDFC Investments Ltd and /or HDFC Holdings Ltd and / or Home Loan Services India Private Ltd ('Promoter Group') on preferential basis pursuant to the SEBI (Disclosure and Investor Protection) Guidelines, 2000, subject to the approvals of the shareholders, Reserve Bank of India and other regulatory authorities.
- Increase in Authorised Capital:
The Board has also approved the increase in authorized capital from Rs. 450 crores to Rs. 550 crores subject to the approval of the shareholders.
- Extra-Ordinary General Meeting
The Board has convened an Extraordinary General Meeting of the members of the Bank on March 27, 2008 to consider the above matters.
Punjab National Bank - PNB Upper Tier II Bond Series III
Punjab National Bank has informed that the Bank will be raising Rs 500 crores (With option to retain Over Subscription) as PNB Upper Tier II Bonds Issue series III through private placement.
The proposed date of opening will be February 29, 2008 and proposed date of closing will March 03, 2008.
BAG Films - Press Release
BAG Films & Media Ltd has informed that NEWS 24, a 24X7 National Hindi News Channel promoted by the Company will now be available on TATA SKY starting February 29, 2008. The channel, with its youthful look and appeal has captured a sizeable market share in less than three months of going on air. Its presence on TATA Sky is bound to get the news channel counted as a premium brand amongst the news channels operating in the country.
NEWS 24 recently managed to leave behind older players in the news market like Sahara Samay and India Live in the recent TRP ratings that were revealed. With its presence on TATA sky, the channel hopes to reach out to more viewers and earn premium for its brand of news telling. With a strong foothold in the market, NEWS 24 is likely to pose stiff competition to its counterparts in the near future. In the words of Ajit Anjum, Managing Editor News 24, its presence on TATA sky for the team 'is just the beginning'.
Commenting on the development, Ms. Anurradha Prasad, Managing Director, B.A.G. Films and Media Ltd, said:
"We are delighted with the development. Television viewers will have one more platform to watch NEWS24 wherein TATA Sky would definitely work as a catalyst in better brand positioning of the Channel. Going forward, we are confident of bringing back the discerning Hindi viewers to watch NEWS24 as our message to all the viewers is that NEWS IS BACK."
Quantum Gold ETF lists on NSE
Mumbai: Quantum Mutual Fund, a Mumbai-based mutual fund house, on Feb 28, dubuted its Quantum Gold Fund, the country's fifth gold Exchange Traded Fund (ETF) on the NSE. It made its debut at Rs 680 a unit, a increase of Rs 87.15 over its allotment price, which is also the highest price at which it traded during the day. It reached a low of Rs 600 before closing the day at Rs 610.37. Of the already listed gold ETFs on the NSE, the Gold Benchmark ETF was increased by 1.23 per cent, Kotak surged 5.36 per cent and Reliance was up 1.36 per cent, whereas UTI's Gold ETF declined 3.53 per cent to end the day at Rs 1,226.81.
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