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| Exchange Disseminated Time | Gayatri Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 16, 2015, has approved, subject to the shareholders and other necessary approvals and in compliance with the SEBI (ICDR) Regulations, 2009 and Sections 42 & 62 and all other applicable provisions, if any, of the Companies Act, 2013 and Rules made thereunder for issue of Equity Shares on Preferential basis to the following proposed allottees:
1. 16,24,006 Equity Shares to the Promoters of the Company by way of conversion of unsecured loan of Rs. 33.00 Crores extended by them, as part of promoter's contribution to the Restructuring Package approved by the "Joint Lenders Forum" (JLF) (Company's bankers) and as per the Master Restructuring Agreement entered with the bankers.
2. 36,54,000 Equity Shares to the Foreign Institutional Investors.
3. Approved the notice of Extraordinary General Meeting of the Company to be held on Friday, the July 10, 2015 at 11.30 a.m. at KLN Prasad Auditorium, The Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry, Federation House, 11-6-841, Red Hills, P.B.14, Hyderabad - 500 004, to obtain the approval of the members for the proposed issue of shares on preferential basis. |
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