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Shalimar Paints Ltd. - Outcome of Board Meeting

| Updated on February 08, 2019 Published on February 08, 2019

We would like to inform you that the Board of Directors of the Company in their meeting held today, i.e. February 08, 2019 and concluded at 4:30 P.M., considered the agenda items and approved the following:
1. To issue and allot, subject to the approval of the shareholders of the Company, equity shares of the Company of face value Rs. 2 each (Equity Shares) towards the conversion of ECB loan into equity to the extent of Indian Rupees after converting the loan amount of $ 800,000 (at such conversion rate as permissible under The Foreign Exchange Management Act, 1999) to Hind Strategic Investments, one of the Promoter of the Company.
The issue price for the proposed allotment of Equity Shares will be determined in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018

2. Unaudited financial results of the Company for the quarter and nine months ended on December 31, 2018.

3. Conducting Postal Ballot for seeking members approval for conversion of ECB loan into Equity through preferential allotment.

4. Appointment of M/s Manisha Rawat & Associates, Practicing Company Secretaries to act as Scruitnizer for conducting the Postal Ballot.

5. Appointment of M/s Jayant Gupta & Associates, as Secretarial Auditors of the Company for the financial year 2018-19.


This is for your information and record.

Pdf Link: Shalimar Paints Ltd. - Outcome of Board Meeting

Source : BSE - www.bseindia.com

Published on February 08, 2019
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