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Sakthi Finance - Outcome of Board Meeting

Share Source By

Dion Global

12 Jan 2019

we wish to inform that the Board of Directors have, at their meeting held today (i.e. Saturday, 12th January 2019), considered and approved the following:

1. Increasing the authorized share capital of the Company from Rs 100 crores (Equity Shares : Rs 70 crores and Preference Shares : Rs 30 crores) to Rs 130 crores (Equity Shares : Rs 100 crores and Preference Shares : ` 30 crores) with consequential change in the Capital Clause of the Memorandum of Association.
2. Rights Issue of Equity Shares for an amount not exceeding Rs 50 crores to the existing shareholders of the Company.

The Board has also authorized the existing Finance and Investment Committee (F & I Committee) to decide on the terms and conditions of the issue including appointment of intermediaries, the issue size, issue price, timing of the issue, rights entitlement ratio, record date etc and all other matters incidental to the issue.

3. Conducting Postal Ballot process for seeking member's approval in respect of the following:
a. Increasing the authorized share capital of the Company from Rs 100 crores to Rs 130 crores with consequential change in the Capital Clause of the Memorandum of Association.
b. Rights Issue of Equity Shares for an amount not exceeding Rs 50 crores to the existing shareholders of the Company.