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| Exchange Disseminated Time | Mirc Electronics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 04, 2013, have considered and approved the following:
1. Raising of funds of upto Rs. 33 crores by way of issue of equity shares to the existing shareholders of the Company on a rights basis (Rights Issue) subject to all applicable statutory and regulatory approvals. The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the issue and other matters shall be decided by the Committee constituted for the said purpose in consultation with the Lead Managers to the Rights Issue. The Committee so constituted shall be free to determine all terms of the Rights Issue.
2. Re-classification of the authorized share capital of the Company by cancelling and re-classifying 20,00,000 unissued 5% Cumulative Redeemable Preference Shares of face value Rs. 100/- (Rupees Hundred) each into 20,00,00,000 Equity Shares of Re. 1/- (Rupee One) each.
3. Convening of an Extra-ordinary general meeting of the Company on January 20, 2014 for obtaining the authority/approval of the members of the Company for matters mentioned above. |
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