(A member of
State Bank of India Group)
COMMUNIQUÉ
The Board of Directors of Indian Ocean International Bank Limited (IOIB) wishes to inform its shareholders and the public at large that, subject to the approval of the relevant authorities, IOIB intends to proceed with a rights issue of 3,376,837 new ordinary shares of Rs10 each at an issue price of Rs30 each in the ratio of one (1) new share for every five (5) shares held.
A detailed time table for the rights issue will be issued once it is finalized with the relevant authorities.
Shareholders of IOIB and the investing public are advised to exercise caution when dealing in the shares of IOIB and will be kept informed of any further developments.
By order of the board
A.B. Mosaheb
Company Secretary
This communique is issued pursuant to DEM rule 21. The Board of Directors of INDIAN OCEAN INTERNATIONAL BANK Ltd accepts full responsibility for the accuracy of the information contained in this announcement.