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| Exchange Disseminated Time | Den Networks Ltd has informed BSE that :
1. The Board of Directors of the Company has approved through circulation, increase in foreign investment limit in the Company by Foreign Institutional Investors, Foreign Portfolio Investors etc., under the Portfolio Investment Scheme in accordance with Schedules 2 and 2A of Foreign Exchange Management Act ( Transfer or Issue of Security by a person Resident Outside India) Regulations, 2000 (FEMA 20) from existing 49% to 74% of the issued and fully paid-up share capital of the Company, subject to the approval of the Shareholders, Foreign Investment Promotion Board of India, Ministry of Finance (FIPB) and all other applicable acts, laws, rules, regulations, circulars, directions, notifications, press notes guidelines and statutory approvals, if any,;
2. The approval of Shareholders' for aforesaid resolution shall be taken through Postal Ballot in accordance with section 110 of the Companies Act, 2013 ("the Act") read with Rule 22 of the Companies (Management and Administration) Rules, 2014. |
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