|
| Exchange Disseminated Time | Linc Pen & Plastics Ltd has informed BSE regarding Outcome of Board Meeting held on March 27, 2012.
Outcome of Board Meeting :
At the meeting of the Board of Directors of the Company held on March 27, 2012, the Board of Directors of the Company has discussed and resolved to enter into a Business & Capital Alliance Agreement with Mitsubishi Pencil Co Ltd, Japan. As a part of this Agreement, Mitsubishi Pencil Co Ltd will subscribe to 2,000,000 equity shares of Rs. 10 each paid up, at a premium of Rs. 90/- per share, comprising 13.53% of the enhanced capital of the Company on a preferential allotment basis. The Board has decided as under:
1. Subject to the approval of members under Section 16, Section 31, Section 94 and any other applicable provisions of the Companies Act, 1956 and other necessary approvals, approved increase and alteration of Authorised Equity Share Capital from present Rs. 13 crores to Rs. 15 Crores.
2. Subject to the approval of members under Section 81 (1A) of the Companies Act, 1956, issue of equity shares of Rs. 10/- each upto 20,00,000 to Mitsubishi Pencil Company Limited, Japan on preferential basis at a price of Rs. 100/- per share.
3. Approved conduct of Postal Ballot seeking approval of members for the aforesaid purpose and has authorized Mr. Deepak Jalan, Managing Director and Mr. N. K. Dujari, General Manager, Finance & Company Secretary to conduct postal ballot, appoint Scrutinizers for said purpose and decide the date of entitlement for voting on the resolutions to be passed by way of Postal Ballot. |
|
|