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| Exchange Disseminated Time | Uniphos Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 23, 2010, inter alia, has resolved as follows:
Consent was accorded to issue equity shares on rights basis pursuant to section 81 (1) of the Companies Act, 1956, to the existing equity shareholders of the Company for an amount not exceeding Rs. 75,00,00,000/- (Rupees Seventy Five Crores only) and in accordance with the present provisions of law, rules and regulations.
The objects of the proposed Rights Issue are the repayment of loan and for general corporate purposes. The ratio for entitlement and the price of issuance shall be determined at the appropriate time.
The Board has constituted a committee of directors and delegated all the powers to the said Committee to determine matters relating to the issue, including the ratio for entitlement, the issue price and all other matters required or necessary in connection with the issue. |
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