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| Exchange Disseminated Time | Impex Ferro Tech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 30, 2013, have considered and approved the following :
1. M/s. S. Jaykishan, the retiring Statutory Auditor have vide their letter dated August 24, 2013 express their unwillingness to continue as the Statutory Auditor in the ensuing Annual General Meeting of the Company being held on September 30, 2013.
In view of above the Board of Director at its meeting held on August 30, 2013 have proposed the appointment of M/s. R. Kothari & Co., Chartered Accountant as the Statutory Auditors of the Company subject to the approval of members at the ensuing Annual General Meeting of the Company.
2. Increased the Authorised Share Capital from Rs. 68 Crores to Rs. 82.50 Crores divided into 8,25,00,000 Equity Shares of Rs. 10 each.
3. The Board of Directors of the Company has accorded its consent to issue 1,50,00,000 (One Crore Fifty Lacs) Equity Shares of Rs. 10/- each at a price of Rs. 20/- per shares (including a premium of Rs. 10 per share) in accordance with SEBI (ICDR) Regulations, 2009, to the entities belonging to the promoter group and strategic investors belonging to non-promoter group on preferential basis.
4. Inclusion of above business in the upcoming Annual General Meeting of the Company to be conducted on September 30, 2013 to take the necessary approval and consent of the shareholders. |
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