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| Exchange Disseminated Time | Frontier Leasing & Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 16, 2013, inter alia, has resolved the following:
1. Considered and approved to reclassify 2,00,00,000 equity shares being the present Authorised Share Capital of the Company into 1,00,00,000 Equity Shares of Rs. 10/- each and 1,00,000 Preference Shares of Rs. 1000/- each and accordingly to alter the Memorandum and Articles of Association of the Company, subject to the approval of the shareholders of the Company; and
2. Considered and approved the proposal to raise funds upto Rs. 10 Crores by issue of Non - Convertible Redeemable Preference Shares to M/s. Inimitable Capital Finance Private Limited on preferential basis, subject to the approval of the shareholders of the Company.
3. Decided to seek approval of the shareholders of the Company in the Extra-Ordinary General Meeting of the Company scheduled to be held on December 05, 2013. |
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