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| Exchange Disseminated Time | Morarjee Textiles Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 19, 2006, has approved the proposal to raise funds through issue of equity shares / warrants / equity linked instruments to existing shareholders on rights basis. The total quantum of funds proposed to be raised from the issue of equity shares and warrants / equity linked instruments will be around Rs 1200 million. The Board has constituted a Committee of Directors and delegated powers to the Committee to determine the final size of the rights issue, price band, final share price, rights ratio, etc.
The Board of Directors of the Company has appointed Mr. Mahesh S Gupta and Mr. Shobhan Thakore as Additional Directors on the Board with effect from January 19, 2006.
Further the Company has informed that the Board has also approved the Employee Stock Option Plan and has delegated the powers to decide the quantum, terms of issue of options to the Remuneration Committee. |
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