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| Exchange Disseminated Time | Spicejet Ltd has informed BSE that subject to the approval of the shareholders of the Company as per the provisions of the Companies Act, 1956 and Companies Act, 2013 to the extent applicable read with provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (“SEBI ICDR Regulations”) and such other approvals, consent, etc. as may be required in this regard, the Board of Directors of the Company at its meeting held January 09, 2014, inter alia, has decided to issue upto 64,169,000 Warrants having option to apply for and be allotted equivalent number of equity shares of the face value of Rs.10 each to the Promoters of the Company, on preferential basis on a price to be determined as per SEBI ICDR Regulations.
The Board further decided to conduct postal ballot exercise pursuant to Section 192A of the Companies Act, 1956 read with Companies (Passing of Resolution by Postal Ballot) Rules, 2011 to give effect to the above and other business of empowering the Board of Directors to borrow in excess of paid-up capital and free reserves of the Company. |
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