Outcome of board meeting of Emerald Leisures

Held on 03 June 2017

Emerald Leisures announced that the Board of Directors of the Company, at their meeting held on 03 June 2017 have reconsidered and approved the following matters:

(i) Reclassification of Authorized Share Capital of the Company, subject to an approval of the shareholders in General Meeting;

(ii) Increase the Authorized Share Capital of the Company, subject to an approval of the shareholders in General Meeting;

(iii) Issue of 40,00,000 Non-Convertible Non-Cumulative Redeemable Preference Shares of face value Rs. 100/- each for an aggregate to Rs. 40 crores in one or more tranches on private placement basis to only promoter/ promoter group, however this securities will not be listed at any Stock Exchange, subject to approval of the shareholders of the Company. The tenure is for a period not exceeding 10 years from the date of allotment and the same will be redeemed in accordance with section 55 of the Companies Act, 2013.

Powered by Capital Market - Live News