Missouri Proposal to authorize and issue subordinated convertible debentures

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US-CC-16-103
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Proposal to authorize and issue subordinated convertible debentures
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FAQ

Compulsorily Convertible Debentures Step 1 ? Convene a board meeting for approval of issue of CCD to particular set of people. ... Step 2 ? Decide on the terms of issue and prepare the CCD agreement with all the important terms. Step 3 ? Open a new bank account which will only be used for deposit of this subscription account.

Issuance Process of Optionally Convertible Debentures Board Approval: The board of directors must pass a resolution to authorize the issuance of OCDs, including determining the terms, conditions, and the maximum number of debentures to be issued.

A compulsory convertible debenture is a bond that must be converted into stock at its maturity date. For companies, it allows for repayment of debt without spending cash. For investors, it offers a return in interest and, later, ownership of shares in the company.

The process of issuing a convertible debenture by a public company within its borrowing limits involves obtaining board approval, seeking shareholder authorization, preparing a prospectus, securing regulatory approval, and then conducting a public offering.

No voting rights to CCD holders till they are converted or default happens. No need to follow strict External Commercial Borrowing (ECB) guidelines in case of investment from foreign residents as CCD is covered under Foreign Direct Investment (FDI).

If you want to issue instruments which can be converted into equity at future date and valuation then the most suitable instruments are Convertible notes and Convertible Debentures. The valuation report is not required if issued to domestic investors.

Convertible debentures are further classified as (A) Full Convertible Debentures, (B) Partly convertible Debentures. A resolution for conversion is approved in the board meeting. The shareholders as well as debenture holders' approval is taken for conversion. A special resolution is passed to that effect.

Hold Board Meeting and pass the Board Resolution for Conversion of CCD into Equity Shares along with approving Notice of Genernal Meeting for the approval of Shareholders of the Company. Hold General meeting of the Shareholders of the Company and pass the Special Resolution for Conversion of CCD into Equity Shares.

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Missouri Proposal to authorize and issue subordinated convertible debentures