The Board of Directors of Lancer Container Lines Limited, the Company, at their meeting held on November 29, 2024, has approved the Preferential Issue of up to 99,80,357 Equity Shares of face value of Rs. 5/- each towards the conversion of outstanding unsecured loans, for an aggregate loan amount of Rs. 41,91,75,000/- at an issue price of Rs. 42/- each, determined in terms of Chapter V of SEBI ICDR Regulations, to the person belonging to Promoter Category, on such terms and conditions as may be determined by the Board and subject to the approval of the Shareholders of the Company.
The board also approved proposal to make strategic investment by way of secondary acquisition of 1,06,50,000 (One Crore Six Lakhs Fifty Thousand) equity shares of face value of Rs. 10/- (Rupees Ten only) each, representing 100% of the equity share capital of BLL, for an aggregate consideration not exceeding Rs.12,03,45,000/- (Rupees Twelve Crore Three Lakhs Forty-Five Thousand only), at Rs. 11.30/- per equity share, payable by the Company a.) partly by way of cash consideration of Rs. 2,26,01,163.90/- and b.) the balance of Rs. 9.77,43,836.10/- by way of a Share Swap through issuance of up to 23,27,232 fully paid-up equity shares of the Company, on preferential basis.
Bulkliner Logistics Limited ("BLL"), a Public Company incorporated under the Companies Act, 2013 (CIN: U35990MH2017PLC391920) having its registered office at Unit No H02-2 H02-3 & H04 Mayuresh Chambers CBD Belapur Co-op. Society Ltd, Plot No. 60, Sector-11, Thane, Navi Mumbai, Maharashtra, 400614, India. Bulkliner Logistics is one of India's few integrated bulk liquid logistics specialists, engaged in designing and supplying many innovative bulk liquid logistics solutions and serves its key customer segments in the Petroleum oil, Edible Oil, Food, Latex, and Chemical Industries worldwide. |
