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| Exchange Disseminated Time | Ankit Metal & Power Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 12, 2011, inter alia, have considered and approved the following business;
1. Withdrawal of the proposed Rights Issue.
2. Increase the authorised share capital of the Company from Rs. 80 Crores to Rs. 100 Crores into 10,00,00,000 Equity Shares of Rs. 10 each.
3. To issue 6,25,00,000 Equity Shares of Rs. 10 each at a price of Rs. 40 each (including a premium of Rs. 30 per share) to the promoters and to certain entities belonging to the promoter and non-promoter group.
Further, the Board of Director has authorized Mr. Chandra Kumar Jain, Company Secretary of the Company to take further steps for taking approval of the shareholders for all the aforesaid matters including the finalization of the AGM Notice. |
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