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| Exchange Disseminated Time 04/01/2017 15:01:57 | La Tim Metal & Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 04, 2017, inter alia, has considered and approved the following :
1. Subject to the approval of the members in the Extra Ordinary General Meeting and appropriate authorities, the Board has decided to increase the authorized share capital of Company from Rs. 5,00,00,000/- to Rs. 7,00,00,000/- and alter the Memorandum of Association of the Company.
Brief Amendments in Memorandum of Association of the Company as per Regulation 30 of SEBI (LODR) Regulations, 2015 read with Circular dated September 09, 2015: The Authorized Share Capital of the Company shall be Rs. 7,00,00,000/-(Rupees Seven Crores only) divided into 65,00,000 (Sixty Five Lacs) Equity Shares of Rs. 10/- (Rupee Ten only) each amounting to Rs. 6,50,00,000/- (Rupees Six Crores Fifty Lacs) and 5,00,000 (Five Lacs) Redeemable Preference shares of Rs. 10/- (Rupee Ten only) each amounting to Rs. 50,00,000/- (Rupees Fifty Lacs).
2. Subject to the approval of the members in the Extra Ordinary General Meeting and appropriate authorities, the Board has decided to issue and allot 40,00,000 Convertible Warrants of Rs. 10/-each to Promoters/ Promoter Group and Non Promoters on Preferential Allotment basis pursuant to Section 62 of the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirement) Regulation, 2009.
3. Subject to the approval of the members in the Extra Ordinary General Meeting and appropriate authorities, the Board has decided to acquire Equity Shares of M/s. La Tim Sourcing (India) Private Limited to make 100% subsidiary.
4. Draft Notice for convening the Extra Ordinary General Meeting of the Company.
5. An Extra Ordinary General Meeting of the Company to be convened on February 10, 2017 at 301, Navkar Plaza, Bajaj Road, Vile Parle (West), Mumbai - 400056, Maharashtra at 11.00 a.m. to transact the above business.
6. M/s. Kothari H. & Associates, Company Secretaries is appointed as the Scrutinizer for conducting E- voting process for ensuing Extra Ordinary General Meeting.
7. Cut-off date for determining the eligibility to vote by electronic means for the purpose of Extra Ordinary General Meeting shall be February 03, 2017.
The Board Meeting concluded at 2.41 pm. |
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