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| Exchange Disseminated Time | Suryalata Spinning Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 14, 2015, inter alia, has transacted the following business:
1. Took note of all existing Deposits of Rs.1.50 Crores, repaid pursuant to the provisions of Section 74 of Companies Act, 2013.
2. Approved the early Redemption of Series IV [35,535 Shares], VII [42,078 Shares], VIII [1,00,000 Shares] , IX [4,08,861 Shares] of cumulative Redeemable Preference Shares of Rs.100/- each aggregating to 5,86,484 Shares of Rs. 5,86,47,400/- held by the promoters and Promoter group of the Company.
3. Took note of the Postal ballot Results for issue of 6,00,000 Equity Shares of Rs.10/- each at a price of Rs.130/- per Share on Preferential basis.
4. Approved the Proposal for offer/issue invitation for subscription of 6,00,000 Equity Shares of Rs.10/- each at a price of Rs.130/- per Share on Preferential basis to the promoters of the Company subject to obtaining the In-Principle approval from the Bombay Stock Exchange Limited.
5. Taken note of Incorporation of YP Solar Power Private Limited as a Wholly Owned Subsidiary of the Company for setting-up Solar Power Plant to generate Power for Captive Consumption of the Company. |
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