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| Exchange Disseminated Time 29/12/2016 12:21:01 | JBM Auto Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 29, 2016, have considered and approved the following:
1. The Board of Directors unanimously superseded and rescinded their earlier resolution passed in their last Board Meeting held on November 14, 2016 w.r.t. the fund raising for Rs. 500 Crore through various fund raising options.
Further, the Board considered the fresh proposal for various fund raising options including through Qualified Institutions Placement (QIP) in terms of Chapter VIII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended, and approved the enabling resolution for the purpose of raising of funds for an amount not exceeding Rs. 600 Crore (Rupees Six Hundred Crore only) subject to the approval of the Shareholders of the Company through Postal Ballot process and all the requisite approvals as may be required from regulatory authorities and in accordance with the provisions of the applicable laws. The fund raising to be done through issuance of Equity Shares or instruments convertible into equity shares including warrants;
2. The Postal Ballot Notice for seeking consent of the Shareholders' of the Company for alteration/amendment in the Memorandum of Association & Articles of Association of the Company and for the above fund raising. |
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