|
Exchange Disseminated Time | Prestige Estates Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2012, inter alia :
1. The Board of Directors while discussing over the future strategy and fund requirements of the Company, observed that the public shareholding in the Company has to be increased to the minimum cap of 25% of total paid-up-share capital of the Company pursuant to amendments to the Securities Contracts Regulation Act, 1957 and in the manner specified by the Securities and Exchange Board of India ("SEBI"). The Directors accordingly, under the agenda item "Other matters" discussed and resolved that subject to the approval of shareholders under Sechon 81(1A) of the Companies Ad, 1956 and the SEBI, the Company may of offer further shares to the prospective investors in order to increase the public shareholding beyond 25% of the total paid-up-share capital of the Company.
2. Further, the Board resolved to seek the approval of shareholders under Section 81(1A) of the Companies Act 1956 through the process of postal ballot as per Section 192A of the Act, in order to ensure participation of maximum shareholders in the process. |
|
|