|
| Exchange Disseminated Time 09/08/2016 19:28:25 | Patel Integrated Logistics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 09, 2016, inter alia, has transacted the following;
1. Authorized the further issuance of equity shares of the Company, with or without detachable warrants on rights basis, to the shareholders of the Company on such ratio and at such price and premium as may be decided in consultation with the Lead Managers to the proposed rights issue. Further, the ratio of rights share entitlements, the Issue price and the record date for fixing the entitlement of shareholders to such rights issue shall be informed in due course when decided subject to approval of Statutory authorities and Shareholders of the Company.
Further the committee comprised of board members and senior management is formed for the aforesaid purpose.
2. The Company (PILL) has signed Letter of Intent (LOI) with Fetchr, based in Dubai for its foray into e-commerce related services in B2B & B2C deliveries. Fetchr provides cutting edge technology for e-commerce and related services and currently is a leading operator in Middle East countries. As per LOI exchanged PILL and Fetchr will establish joint venture where Fetchr will bring technology and also participate in the equity of Joint Venture. |
|
|