MSP Steel & Power Limited has informed the Exchange regarding Outcome of Board Meeting held on March 12, 2018.This is to inform you that the Company has received In-principle approval pursuant to Regulation 28(1) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 for allotment of further Equity Shares and Optionally Convertible Debentures (??OCDs??). A Meeting of Board of Directors (??Board??) of the Company held on 12th March, 2018, interalia, considered/approved following matters, under Resolution Plan in terms of applicable provisions of Companies Act, 2013 and SEBI regulations & guidelines:?? Issuance and allotment of 297,315,000 Equity Shares on preferential basis of face value of Rs.10 each to the proposed allottees ; and ?? Issuance and allotment of 451,970,554 OCDs of face value of Rs.10 each to the consortium of Lenders on preferential basis
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