Board Meeting on Feb 23, 2016

| Updated on February 05, 2016 Published on February 05, 2016

Himadri Chemicals & Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 23, 2016, inter alia, to consider a proposal, subject to all necessary approvals, to enter into an agreement with the holder of Deep Discount Debentures (“Debentures”) and to revise the terms of issue of the Debentures inter-alia to convert the said Debentures into equity shares of the Company, subject to the approval of the shareholders. The equity shares of the Company shall be issued at a price not lower than the price computed in accordance and compliance with Regulation 76 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (“ICDR Regulations”) based on the fair value of the Debentures as valued by an independent qualified valuer in accordance with Regulation 73(3) of the ICDR Regulations. The said conversion once approved shall result in preferential issue of equity shares to the holder of such Debentures in compliance with the applicable laws.

Source : BSE - >www.bseindia.com

Published on February 05, 2016
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