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| Exchange Disseminated Time 29/07/2016 14:44:38 | Sutlej Textiles and Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 29, 2016, inter alia, has considered and decided / approved the following;
1. Raising of funds for an amount not exceeding Rs. 120 Crore (Rupees One Hundred Twenty Crore only) through issuance of securities including equity shares or equity linked securities, including through a qualified institutional placement under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, and/or issuance of Equity Shares through convertible bonds, depository receipts and/or any other instrument convertible or exchangeable into equity shares, and/or other securities with or without warrants, to eligible investors subject to the approval of the members of the Company pursuant to the provisions of Section 62(1)(c) and other applicable provisions of the law.
2. Revised Notice for the 11th Annual General Meeting of the Company to be held on August 27, 2016, after inclusion of the above business.
The Board of Directors has also approved business for conduct of a postal ballot of the shareholders of the Company for passing a special resolution U/S 180(1)(a) of the Companies Act, 2013, with regard to/commensurate with the proposed borrowing powers of the Board.
The meeting of the Board of Directors of the Company commenced at 1.00 p.m. and concluded at 2.15 p.m. on July 29, 2016. |
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