At meeting held on 31 March 2015
Universal Cables announced that the Board of Directors of the Company at its meeting held on 31 March 2015, inter alia, has:1. Approved the issue of equity shares of the face value of Rs. 10/- each of the Company to the equity shareholders of the Company by way of Rights Issue for an aggregate amount not exceeding Rs. 65 crore, subject to all applicable statutory and regulatory approvals and consent/approval of members of the Company by way of a Special Resolution. The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the Rights Issue and other related matters shall be decided subsequently by the Board/or duly constituted Committee of the Board.
2. Approved the appointment of and payment of remuneration to Amitava Bose, as 'Manager & Chief Operating Officer' of the Company with effect from 05 May 2015, subject to the approval of members of the Company by way of Special Resolution.
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