IMP POWERS LTD. - Outcome of Board Meeting

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27 May 2015
IMP Powers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 27, 2015, inter alia, has transacted the following business:<BR><BR>1. Decided to withdraw the application in respect of the Prior in-principle approval under Clause 24(a) of the Listing Agreement for the issue of 5,00,000 Equity Shares to Advance Transformers & Equipments Pvt. Ltd. and Universal Transformers Pvt. Ltd. (Promoter Group Companies) on preferential basis, as approved by the Members of the Company on February 25, 2015 by way of Postal ballot.<BR><BR>2. Approved the fresh proposal for issue of such number of Equity Shares on preferential basis to Advance Transformers & Equipments Pvt. Ltd. and Universal Transformers Pvt. Ltd. (Promoter Group Companies) by conversion of their Unsecured loan into Equity Shares, subject to the approval of the Members, in Compliance with SEBI (ICDR) Regulations, 2009, Companies Act, 2013 and other applicable laws, rules and regulations.
View all announcements for IMP POWERS LTD.	Source: BSE India

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