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| Exchange Disseminated Time 08/09/2016 21:04:57 | Prakash Constrowell Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 08, 2016 which commenced on 3.00 p.m. and concluded on 6.45 p.m., inter-alia, has transacted the following:
1. Considered and approved acquisition of SPG Multi Trade Private Limited. Detailed information as required under Regulation 30 of the SEBI Listing Regulations, 2015.
2. Considered and approved Preferential offer and issue of up to 7,50,00,000 (Seven Crores Fifty Lacs) Warrants, convertible into equivalent number of Equity Shares of Rs. 1 /- each to the Promoters/ non-promoters subject to the approval of the Members of the Company through postal ballot by way of passing special resolution under Section 42 and 62 of the Companies Act, 2013 and other necessary regulatory approval. The Warrants will be issued at a price not lower than the price arrived at as per the provisions of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements] Regulations, 2009, as amended and on such further terms and conditions specified in the said Regulations. |
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