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| Exchange Disseminated Time | Shree Renuka Sugars Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 20, 2014, interalia, considered and approved the following-
- Issue and allotment of upto 257,491,592 (Two hundred and fifty seven million four hundred and ninty one thousand five hundred and ninty two only) Equity Shares of face value of Re. 1/- each, for a price of Rs. 20.08 (Rupees Twenty and eight paise only) per Equity Share, aggregating to Rs. 5,170.43 Million to Wilmar Sugar Holdings Pte. Ltd., on preferential basis, subject to the approval of shareholders/FIPB/Stock Exchanges/statutory approvals, wherever required (copy of Press Release enclosed);
- Increase the Authorised share capital of the Company;
- Alteration of Object Clause of the Memorandum of Association of the Company;
An Extraordinary General Meeting of the Members of the Company has been convened for the approval of Preferential Issue/aforesaid matters on March 21, 2014 in Belgaum;
- Conduct of Postal Ballot for obtaining approval of the shareholders of the Company for the following businesses :
i. Alteration of the Objects Clause of the Memorandum of Association of the Company; and
ii. Payment of remuneration to the Whole-Time Directors of the Company.
The Company has appointed Mr. Gururaj Mutalik, Advocate of Belgaum, as Scrutinizer for conducting the postal ballot process in a fair and transparent manner. A consent letter has been obtained to this effect.
- Noted the resignations tendered by Mr. Nandan Yalgi and Mr. Sidram Kaluti, from the office of Directors of the Company, effective February 20, 2014. |
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