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| Exchange Disseminated Time 03/08/2016 17:34:05 | Sat Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 03, 2016, inter alia, have considered and approved the following;
1. To enter into new line of business i.e. finance, investment, pharmaceuticals, real estate and infrastructure etc. Company has incorporated a wholly owned subsidiary viz. ITALICA VENTURES PRIVATE LIMITED and decided to invest up to Rs. 5.00 crore in this company.
2. To increase Authorized Share Capital of the Company from Rs. 15.00 crore to Rs. 22.00 crore.
3. To make preferential issue of 4,00,00,000 (Four crore only) Convertible Warrants at a price and terms and conditions in accordance with the SEBI Guidelines and subject to all approvals, consents and sanctions etc. to promoters and other investors.
4. Postal Ballot Notice and other relevant papers for conduction of Postal Ballot. |
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