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| Exchange Disseminated Time | Hathway Bhawani Cabletel & Datacom Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 11, 2014 inter alia, has considered and approved :
1. Subject to approval of shareholders, approved adoption of new set of Articles of Association of the Company as per the provision of Companies Act, 2013.
2. Subject to approval of shareholders, approved appointment of Mr. Dilip Worah, Mr. L. K. Kannan, and Mr. Hetal Thakore as Independent Director for a term of five Years with effect from the conclusion of the ensuing Annual General Meeting.
3. Subject to approval of shareholders and other authorities, and compliance with applicable laws and regulations, the issuance of up to 9,00,000 fully paid-up equity shares of face value of Rs. 10 each (the Equity Shares) of the Company to Hathway Cable & Datacom Limited, at a price of Rs. 11/- per Equity Share aggregating to Rs. 99,00,000/- (Rupees Ninety Nine Lacs only) by way of a preferential allotment subject to provisions of Section 42 and 62(1)(c) of the Companies Act, 2013, limits specified in the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2009 and other relevant regulations and provisions. |
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