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| Exchange Disseminated Time | Kirloskar Electric Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 18, 2016, inter alia, to consider and approve the following Items:
1. Raising of funds by Issuing Preference Shares under SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013; and/or by Issuing Eligible Securities through Qualified Institutions Placement under Chapter VIII of SEBI (ICDR) Regulations, 2009 and appointment of various agencies relating thereto;
2. Increasing the authorized capital of the Company from Rs.90 crores to Rs. 165 crores;
3. Increasing the limit of holding by foreign entitles in the Company from 24% to 49%;
4. Calling of an EGM for taking shareholders approval for the above matters;
5. Such other Incidental or ancillary issue which may be required In this regard.
Further, in this connection, it is further informed that the "Trading Window" of the Company will remain closed for the period from May 16, 2016 to May 20, 2016 (i.e., till the expiry of 48 hours from the announcement of the outcome of the meeting). |
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