At meeting held on 27 January 2016
Acknit Industries announced that the Board of Directors of the Company at its meeting held on 27 January 2016, has approved further issue of equity shares of the face value of Rs. 10/- each of the Company to the existing equity shareholders of the Company on a rights basis (Rights Issue) aggregating upto Rs. 12.50 crore inclusive of Premium, if any, as may be decided by a committee of Directors appointed by the Board subject to all applicable statutory and regulatory approvals.The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date and other matters shall be decided by a committee of Board constituted for this purpose ("Rights Issue Committee").
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