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| Exchange Disseminated Time | Ester Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 03, 2013, has approved the following:
1. Issue and allotment of 20,900,000 warrants of Rs. 10.10/- each convertible at the option of the allottee into 20,900,000 Equity shares of Rs. 5/- each fully paid up at a price of Rs. 10.10/- each including a premium of Rs. 5.10/- each to the Non-promoter entity on preferential basis subject to the approval of shareholders, FIPB/Govt of India, Stock Exchanges or any other authority, wherever required.
2. An Extra Ordinary General Meeting will be convened for the approval of aforesaid Preferential issue on October 31, 2013 at the Registered Office of the Company at Sohan Nagar, P. 0. Charubeta, Khatima-262308, Distt. Udham Singh Nagar, Uttarakhad
3. Approval to conduct Postal Ballot to seek consent of Non-Promoter Shareholder for the approval for Scheme of Arrangement between Sriyam Impex Private Limited (Transferor Company) and Ester Industries Limited (Transferee Company) and their respective shareholders and creditors in accordance with the requirements of Securities and Exchange Board of India (SEBI) Circular dated February 04, 2013 and SEBI Circular dated May 21, 2013. |
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