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| Exchange Disseminated Time 13/02/2017 20:12:20 | Country Club Hospitality & Holidays Ltd has informed BSE that the Board of Directors of the Company at their Meeting held on February 13, 2017 has considered the following:
1. Approved the Proposal for further issue of 50,00,000/- (Fifty Lakhs Only) equity shares of face value of Rs. 2/- each on Preferential Basis to Mr. Naresh Lakshman Singh Kothari, Former President at Edelweiss at an Issue Price of Rs. 13.31/- per equity share or at such higher price as may be determined in compliance with the Chapter Vll of the Securities & Exchange Board of India (Issue of Capital Disclosure Requirements) Regulations, 2009 and subsequent amendments thereto ['"SEBI (ICDR) Regulation, 2009"] and also subject to the approval of the Members in compliance of sections 42 & 62 of the Companies Act, 2013.
2. Approved the Proposal for issue of 1,00,00,000/- (One Crore Only) Warrants on Preferential Basis to Mr. Naresh Lakshman Singh Kothari and M/s. Zen Garden Hotel Private Limited at an Issue Price of Rs.13.31/- per Warrant or at such higher price as may be determined in compliance with chapter VII of the SEBI (ICDR) Regulations, 2009. Each Convertible Warrant shall be convertible into one equity share of the face value of Rs. 2/ - each within a period of 18 months from the date of the allotment of Warrants in compliance of the SEBI (ICDR) Regulations, 2009 and also subject to the approval of the Members in compliance of sections 42 & 62 of the Companies Act, 2013.
3. Approved the draft notice of Postal Ballot for seeking members approval for the Preferential Issue of Equity Shares and Warrants to Mr. Naresh Lakshman Singh Kothari and M/s. Zen Garden Hotel Private Limited respectively in accordance with the sections 42 & 62 of the Companies Act, 2013 other applicable provisions of the SEBI (ICDR) Regulations, 2009 and other applicable rules and regulations. |
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