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| Exchange Disseminated Time | Radix Industries (India) Ltd has informed BSE that the meeting of the Board of Directors of the Company was held on July 23, 2012.
Outcome of Board Meeting :
1. To offer 70,00,000 Equity Share on preferential basis to Promoters and Non Promoters as per the Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, subject to necessary provisions & approvals.
2. The relevant date for the purpose of determination of price at which the Equity share be offered on preferential basis shall be 30th day prior to the date of declaration of postal ballot results.
3. Approved Increase of Authorized Share Capital from Rs.10 Cr to Rs.15 Crores, subject to shareholders’ approval.
4 . Approved the enhancement of the Borrowing Limits in excess of the Paid Up Share Capital of the Company and its Free Reserves for an amount not exceeding Rs. 90.00 crores (Ninety Crores), subject to the approval of the shareholders.
5. To take approval of the shareholders, authorizing the Board of Directors Of the Company to borrow moneys by way of creating Charge on the Assets of the Company.
6. Approved conducting of Postal Ballot under Section 192A.
7. Appointed Ms. N. Vanitha Practicing Company Secretary as the Scrutinizer for Conducting the Postal process in fair and transparent manner.
8. Sri G Raghu Rama Raju., Managing Director is authorized to carry out the Postal Ballot Process and other matters connected therewith." |
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