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| Exchange Disseminated Time | Garware Synthetics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 17, 2014, has considered following points.
1. The Board has approved the expansion of Plastic Engineering Business. The Company will be the first one in India to introduce Plastic Engineering Business for manufacturing of Plastic Auto Components having equal strength of metal components. Plastic Engineering Business is revolutionary in nature.
2. The Board has approved an issue upto 10,00,000 (Ten Lakhs) Equity Shares of Rs. 10.00 (Rupees Ten Only) each at Rs. 50.00 (Rupees Fifty Only) per share to the promoters of the Company on preferential basis, subject to approval of Members in Extra Ordinary General Meeting.
3. The Board has approved an issue upto 10,00,000 (Ten Lakhs) Share Warrants to the promoters of the Company at Rs. 50.00 (Rupees Fifty Only) per share subject to approval of Members in Extra Ordinary General Meeting
4. The Board has decided to issue further shares/warrants to non promoters at appropriate time for which a separate committee will be formed which will take decision in this regard and inform the stake holders accordingly.
5. The Board has also decided to convey an Extra Ordinary General Meeting on January 28, 2015. The notice Extra Ordinary General Meeting and other information will be intimated to Prestigious Stock Exchange in due course of time.
6. The Board has considered other Normal Business of the Company. |
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