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| Exchange Disseminated Time | Shakti Pumps India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 14, 2014, inter alia, has taken the following decisions:
1. The Board has approved appointment of Mr. Bal Mukund Sharma as an Independent Director.
2. The Board has accepted resignation of Ms. Pooja Mahajan as a Nominee Director (IFCI Limited).
3. The Board has allotted 15,00,000 (Fifteen Lakhs) 15% Compulsory Convertible Preference Shares (“CCPS”) at a Nominal Value of Rs. 100/- each at a premium of Rs. 200/- each aggregating to Rs. 45,00,00,000/- (Rupees Forty Five Crores Only) and convertible into 16,36,363 (Sixteen Lakhs Thirty Six Thousand Three Hundred and Sixty Three Only) Equity Shares of Rs. 10/- (Rupees Ten Only) each at a premium of Rs. 265/- (Rupees Two Hundred Sixty Five Only) each of the Company at a conversion ratio of 1:1.0909 to AFHoldings, a Company incorporated under the laws of Mauritius. |
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