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Exchange Disseminated Time | Orient Green Power Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 22, 2013, inter alia, has approved the following business:
1. Issuance of notice of postal ballot for obtaining the shareholders’ approval in respect of the preferential allotment of 10,00,00,000 equity shares of face value INR 10 each, pursuant to the provisions of Section 81(1A) of the Companies Act, 1956 and other applicable legal provisions, including Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, to Shriram Industrial Holdings Private Limited (Preferential Allotment). The issue price of these Preferential Shares will be Rs. 15/- per share which will be more than the minimum price as will be determined in accordance with the aforesaid regulations;
2. the execution of the Master Framework Agreement to be entered into by the Company in relation to the Preferential Allotment; and
3. issuance of notice of postal ballot for obtaining the shareholders’ approval for the amendment, variation and modification to the terms and conditions of utilisation of the proceeds raised through the initial public offering of the Company. |
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