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| Exchange Disseminated Time 17/12/2016 14:00:20 | Foods & Inns Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 17, 2016, has transacted the following;
1. To raise capital by way of:
- Conversion of loan into equity shares and thus issue upto 40,000 equity shares to person(s) not belonging to promoter and promoter group of the Company on a private placement basis.
- further issue of 36,000 warrants to person(s) belonging to promoter and promoter group of the Company on a private placement basis.
- further issue of 16.500equity shares to person(s) not belonging to promoter and promoter group of the Company on a private placement basis.
in compliance with applicable provisions of Companies Act, 2013, S11B1 (Issue of Capital and Disclosure Requirements) Regulations, 2009 and any other applicable Law.
2. Approved draft notice of extra-ordinary general meeting.
The meeting of the Board of Directors commenced at 11.00 a.m and concluded at 12,45 p.m |
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