BRIEF-Marg Says Unit To Enter Into Loan Restructuring Deal With Edelweiss Asset Reconstruction Co

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BRIEF-Marg Says Unit To Enter Into Loan Restructuring Deal With Edelweiss Asset Reconstruction Co
Credit: © Reuters.

March 23 (Reuters) - Marg Ltd MARG.BO :

* MARG - KARAIKAL PORT TO ENTER INTO LOAN RESTRUCTURING DEAL WITH EDELWEISS ASSET RECONSTRUCTION CO, OTHERS AND PARTIALLY CONVERTING LOAN TO SHARES‍​

* CO APPROVED PROPOSED SETTLEMENT LETTER ISSUED BY EDELWEISS ASSET RECONSTRUCTION CO W.R.T. RESTRUCTURING OF BORROWINGS OF CO

* CO APPROVED ISSUE OF SHARES TO EDELWEISS ASSET RECONSTRUCTION CO TO EXTENT OF 26 PERCENT OF POST ISSUE CAPITAL AS PART OF RESTRUCTURING

* SAYS SHAREHOLDING PERCENTAGE OF CO'S STAKE WILL BE DILUTED ; DILUTION TO BE 5.60 PERCENT OF RESTRUCTURED CAPITAL OF THE UNIT

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