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| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 13, 2010, inter alia, have subject to the approval of members and other necessary regulatory approvals, wherever required, approved the following:
1. Increase the Authorised Share Capital of the Company to Rs. 250.00 Crores from the present Authorised Share Capital of Rs. 75.00 Crores and also to make necessary amendments in the Memorandum of Association of the Company in this regard.
2. To raise funds for the Company by way of issue of securities, including Global Depositary Receipts (GDRs) and / or American Depository Receipts (ADRs) convertible into equity shares, Foreign Currency Convertible Bonds (FCCBs) or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc. convertible into equity shares, in one or more tranches, in Indian or Foreign Market(s) as applicable, whether optionally or otherwise or any combination thereof ("Securities") up to an aggregate amount not exceeding 200 Million US$ (Two Hundred Million US Dollars) only.
3. Pursuant to the provisions of SEBI (DIP) Guidelines for Preferential Issues, to issue warrants convertible into equity shares on preferential basis to the Promoters / Promoter Group of the Company.
4. Further Mr. Vinod Kumar Goyal has been appointed as an Executive Director on the Board of the Company w.e.f. July 13, 2010.
5. Mr. Prem Kumar has also joined the Board as an Independent Director w.e.f. July 13, 2010. |
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