Corporation Bank holds extraordinary general meeting of the Shareholders

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Mangalore, Dec. 16: In the Extraordinary General Meeting of the shareholders of the Corporation Bank held on 16th December Monday at Head Office of Corporation Bank at Mangalore.

The shareholders have unanimously passed the special resolution for issue of 1,46,27,486 equity shares of the Bank of the face value of Rs. 10 each at a premium of Rs. 297.64 per share i.e., at an issue price of Rs. 307.64 per share aggregating to Rs. 450 crore on preferential basis to the Government of India and raising of further capital to the tune of Rs. 1,000 crore by way of QIP issue (Qualified Institutions Placement) at an appropriate time, on private placement route, subject to getting necessary approvals from Regulatory authorities.

S R Bansal, Chairman & Managing Director of the Bank addressed the Shareholders on the occasion of Extraordinary General Meeting of Corporation Bank. Amar Lal Daultani and B K Srivastav, Executive Directors, Eknath Baliga, Officer Employee Director and General Managers of the Bank were present at the occasion.

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