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Gokak Textiles Ltd. - Outcome of Board Meeting

| Updated on July 30, 2019 Published on July 30, 2019

We wish to inform that the Board of Directors at their meeting held on July 30, 2019 have subject to the approval of shareholders approved issuance of 11 % Non-cumulative, Non-convertible, Non-participating, Redeemable Preference Shares of Rs. 10 each aggregating to Rs. 45 crores in one or more tranches on Private Placement basis to the Shapoorji Pallonji and Company Private Limited, Promoter and / or any other Promoter Group company. The tenure for aforesaid preference shares period will be 20 years from the date of allotment and the same will be redeemed in accordance with section 55 of the Companies Act, 2013. The Preference Shares shall not be listed.

Pdf Link: Gokak Textiles Ltd. - Outcome of Board Meeting

Source : BSE - www.bseindia.com

Published on July 30, 2019
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