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| Exchange Disseminated Time | Kopran Ltd has informed BSE the Board of Directors of the Company at its meeting held on September 29, 2014, inter
alia, has subject to the Shareholders approval by way of a Special Resolution through Postal Ballot, decided the following:
1. To transfer Active Pharmaceutical Ingredient (API) business as a going concern on 'Slump Sale' basis, subject to the approval of secured creditor and such other approval as may be necessary, to its Subsidiary Kopran Research Laboratories Limited at a consideration as determined by Independent Valuer.
2. To issue 20,50,000 Equity Shares to Oricon Properties Pvt. Ltd. a Promoter Group Company at a price determined on the 'Relevant Date' in accordance with Chapter VII of SEBI (ICDR) Regulations of 2009.
3. To issue 21,50,000 Warrants to be converted in equity shares of equal number within 18 months to Oricon Properties Pvt. Ltd. a Promoter Group Company at a price determined on the 'Relevant Date' in accordance with Chapter VII of SEBI (ICDR) Regulations of 2009.
- Change in Directorship.
1. Based on the recommendations of Nomination & Remuneration Committee the Board of Directors has appointed Dr. Siddhan Subramanian as an Additional Director (Independent) w.e.f. September 29, 2014.
2. Based on the recommendations of Nomination & Remuneration Committee the Board of Directors has appointed Dr.Sunita Banerji as an Additional Director (Independent) w.e.f. September 29, 2014.
3. Mr. Susheel G. Somani, Director has resigned w.e.f. September 29, 2014. |
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