AGARWAL INDUSTRIAL CORPORATION LTD. - Outcome of Board Meeting
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| 29 Aug 2015 | |
| Agarwal Industrial Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 29, 2015, inter alia, considering the following matters:<BR><BR>1. Approved preferential issue of 6,60,000 Warrants, convertible into equal shares of Rs. 10/- each, to member of promoter and promoter group of the Company in compliance with applicable provisions of Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations. 2009 and any other applicable Law.<BR><BR>2. Approved increased the Authorised Share Capital of the Company from existing Rs. 6,00,00,000 (Rupees Six Crores) divided into 60,00,000 (Sixty Lacs) equity shares of Rs. 10/- each to Rs. 7,00,00,000 (Rupees Seven Crores) divided into 70,00,000 (Seventy Lacs) equity shares of Rs. 10/- each by creation of additional 10,00,000 (Ten Lacs) equity shares of Rs. 10/- each ranking pari passu in all respect with the existing equity shares of the Company and consequential amendment in the Memorandum & Articles of Association of the Company.<BR><BR>3. Approved the Notice of the ensuing Twenty First Annual General Meeting of the Members of Agarwal Industrial Corporation Limited which besides other business to be transacted thereat, shall include business as stated in para 1 and 2 above, for approval by the members of the Company.<BR><BR>4. Considered the proposal of merger of Agarwal Petrochem Private Limited with the Company. The Transferor Company - Agarwal Petrochem Private Limited is engaged in the similar activities of manufacturing and trading of Petrochemicals (Bitumen and Bituminous Products), Logistics of Bitumen. Further, the Board has formed a Committee to appoint intermediaries' viz. Valuer. Merchant Banker, Lawyer etc. and give Draft Scheme of Amalgamation, Share Exchange Ratio, etc.<BR><BR>Draft Scheme of Amalgamation. Share Exchange Ratio, etc. will be considered and approved by the Board in the subsequent Board meeting. | |
| View all announcements for AGARWAL INDUSTRIAL CORPORATION LTD. | Source: BSE India |
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