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| Exchange Disseminated Time 02/05/2016 17:22:40 | Sakthi Sugars Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 02, 2016, have, subject to the approval of the members, inter alia, approved -
a. Issue of 2,26,35,757 equity shares of Rs. 10 each, at a price of Rs. 27.00 (Rupees twenty seven only) per equity share, as fully paid-up equity shares by conversion of loans aggregating to Rs. 61.12 crores to Asset Reconstruction Company (India) Limited (Arcil), on preferential issue basis.
b. Increasing the Authorised Share Capital of the Company from Rs. 160 crores to Rs. 170 crores divided into 12,00,00,000 equity shares of Rs. 10/- each aggregating to Rs. 120,00,00,000 and 50,00,000 Preference shares of Rs. 100/- each aggregating to Rs. 50,00,00,000/- by creation of additional 1,00,00,000 equity shares of Rs. 10/- each.
c. Amendment of Capital Clause V of the Company's Memorandum of Association to increase in the Authorised Share Capital.
d. Passing of necessary resolutions by members in respect of the above through Postal Ballot. |
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