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| Exchange Disseminated Time 14/02/2017 14:24:26 | Texmaco Rail & Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2017, inter alia, has approved the following;
1. Company in terms of the approved Scheme of Amalgamation between the Company and Kalindee and their respective shareholders & creditors, has allotted to the Equity Shareholders of Kalindee 106 Equity Shares of Rs. 1/- each of the Company against every 100 Equity Shares of the Kalindee of Rs. 10/- each held by them in Kalindee as on Record Date i.e. February 10, 2017. Consequent to the allotment, the paid up Equity Share Capital of the Company has increased from 21,05,02,598 Equity Shares of Rs. 1/- each to 21,94,14,993 Equity Shares of Rs. 1/- each.
2. Directors deliberated on the status of business of the Company in the post-merger scenario (merger of Kalindee into the Company), and approved the formation of a Committee of Directors to explore and evaluate various organic and inorganic options available for expanding further the product portfolio & businesses of the Company, and to explore more efficient and cost effective means of operations for the Company.
Upon completion of evaluation of the possible options, the Committee of Directors shall submit its recommendations to the Board and to such other committee(s) of the Board, including the Audit Committee, as may be required under applicable laws.
The Meeting commenced at 12 Noon and concluded at 2:15 P.M. |
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