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Outcome of Tuticorin Alkali Chemicals & Fertilizers

Capital Market 

Held on 05 December 2017

The Board of Chemicals & Fertilizers at its meeting held on 05 December 2017 has approved the following -

1. To obtain 'in-principle' approval from the BSE in compliance of Regulation 28 of SEBI (LODR) Regulations, 2015 for issue of 1,22,60,000 Equity Shares of Rs.10/- each to Promoters and their Associates by conversion of the Unsecured Loans received from them.

2. To issue 74,74,000 Redeemable Cumulative Preference Shares of Rs.100/- each on Private Placement Basis.

3. To constitute a Committee consisting of two Independent Directors, viz., B Narendran and RM Krishnan and the Managing Director, G Ramachandran to implement the above proposal including calling of Extraordinary General Meeting of the Shareholders and all other such things that are required for the purpose of issue of shares. 4. The proposals of issue of capital are subject to such approvals that are required under various statues.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 05 2017. 19:52 IST