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| Exchange Disseminated Time | Spicejet Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 29, 2015, has taken on record the Share Sale and Purchase Agreement dated January 29, 2015 between the Company, Mr. Kalanithi Maran, Kal Airways Private Limited and Mr. Ajay Singh pursuant to which the existing Promoter (i.e. Mr. Kalanithi Maran and Kal Airways Private Limited) have agreed to sell and transfer their entire shareholding aggregating to 350,428,758 equity shares (58.46%) to Mr. Ajay Singh.
The Board has further, inter-alia, transacted on the following:
1. Increase in Authorised Share Capital of the Company to Rs. 20,000,000,000 (Rupees Twenty Thousand Million) divided into 1,500,000,000 (One Thousand Five Hundred Million) equity shares of Rs.10 (Rupees Ten) each and 5,000,000 (Five Million) non-convertible Cumulative Redeemable Preference Shares Rs. 1,000 (Rupees One Thousand) each.
2. To create, offer, issue and allot upto 3,750,000 (Three Million Seven Hundred and Fifty Thousand) non-convertible Cumulative Redeemable Preference Shares of Rs. 1,000 (Rupees One Thousand) each to Mr. Kalanithi Maran and / or Kal Airways Private Limited on preferential basis.
3. To create, issue, offer and allot equity shares / warrants and / or any instrument convertible into equity shares whether optionally or otherwise / Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) / Foreign Currency Convertible Bonds (FCCBs) (“Securities”) for an aggregate amount not exceeding Rs.15,000,000,000 (Rupees Fifteen Thousand Million only) or equivalent currency(ies) to any person or persons, whether or not shareholder of the Company.
4. Change in the registered office of the Company from State of Tamil Nadu to Delhi.
5. Alteration to the Articles of Association of the Company.
6. To conduct postal ballot exercise in order to obtain shareholders approval, wherever required, for above purposes in accordance with provisions of the Companies Act, 2013 and other applicable rules and regulations.
Further, it is to be noted that Mr. Kalanithi Maran, Mrs. Kavery Kalanithi and Mr. S. Natrajhen have resigned from the Board of the Company with immediate effect and the Board has accepted the same. |
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