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| Exchange Disseminated Time | Hathway Cable & Datacom Ltd has informed BSE that the Board of Directors of the Company has approved and passed the following resolutions by circulation:
1. Subject to receipt of approval of the Foreign Investment Promotion Board of India, Ministry of Finance (FIPB) and / or the Reserve Bank of India (RBI) and all other applicable authorities, increasing the foreign investment limit only by Foreign Institutional Investors, Foreign Portfolio Investors, etc. under the Portfolio Investment Scheme in accordance with Schedules 2 and 2A of the Foreign Exchange Management Act (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 in the Company from 49% to 74% of the issued arid fully paid-up share capital of the Company.
2. Postal ballot notice along with the explanatory statement and calendar of events for seeking approval of the shareholders of the Company by postal ballot for aforesaid increase in the foreign investment limit, subject to receipt of approval of the Foreign Investment Promotion Board of India, Ministry of Finance (FIPB) and / or the Reserve Bank of India (RBI) and all other applicable authorities, only by Foreign Institutional Investors, Foreign Portfolio Investors, etc. under the Portfolio Investment Scheme in accordance with Schedules 2 and 2A of the Foreign Exchange Management Act (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 in the Company from 49% to 74% of the issued and fully paid-up share capital of the Company. |
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