Conversion of Compulsorily Convertible Preference into equit

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2010 Dear All,

Our Company issued Compulsorily Convertible Preference shares on Rights basis. Now we want to convert these shares into Equity. For that we have to hold Board Meeting first and after that we will intimate the shareholders by Registered post about conversion and request them to surrender pref share certificates. My question is:
First, whether we hv to give advertisement in newspaper also to intimate the shareholders. Is it Necessary?

Secondly, which Form we have to file with ROC? If we file Form 2, then earlier also we filed form 2 (allotment of pref shares) and now again Form 2 (allot of equity). Then how in records of Roc earlier pref shares alloted will get cancelled.

And also if anyone has the format of board resolution for conversion and letter format for intimation to shareholders, please provide the same.

Please treat this as urgent........

Thanks & Regards
Lipika

Jagruti (CS)

Jagruti (CS) (Expert)
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17 September 2010 You will also have to file Form 5 as Conversion is demeed redeemption of preference shares. THis will be relected in Master date.

Thus, ur share capitla data & ROC will get tallied.

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