Outcome of Board Meeting (EGM on Dec 17, 2011)

| Updated on November 12, 2017 Published on November 18, 2011

Valuemart Retail Solutions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 17, 2011, inter alia, has approved the following:

1. To issue and allot 20,00,000 Equity Shares of Rs. 10/- each at a premium of Rs. 40/- per share (the issue price being not less than the price as arrived at, in accordance with the terms of Chapter XIII of SEBI - Disclosure and Investor Protection - Guidelines 2000) either for cash or for advance amount received if any, as may be deemed most appropriate by the board to the Promoters and Strategic Investors.

2. To hold an Extraordinary General Meeting of the shareholders on December 17, 2011, at Hotel Woodlands, Mini Hall, No.5, Raja Rammohan Roy Road, Bangalore - 560 025 at 11.00 AM.

3. The Notice of Extraordinary General Meeting to be issued to the members.

4. The resolution passed by the Board of Directors at the meeting held on August 10, 2011 for the issue of 47,94,236 equity shares on Rights basis to the existing shareholders in the ratio of 4:1, be kept in abeyance.

Source : BSE - >www.bseindia.com

Published on November 18, 2011
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