Outcome of board meeting of Future Consumer

Held on 07 April 2019

The Board of Future Consumer at its meeting held on 07 April 2019 has approved the following -

Issue of upto 7,000 fully paid-up Compulsorily Convertible Debentures of face value of Rs 1 lakh each aggregating to INR equivalent to USD 10 million to Verlinvest SA ("Verlinvest"), on a preferential basis. The CCDs are convertible into equity shares of the Company within 18 months from the date of allotment, at a conversion price of Rs 45.02 per equity share.

issue of upto 21,000 fully paid-up Compulsorily Convertible Debentures ("CCDs") of face value Rs 1 lakh per CCD, aggregating to upto Rs 210 crore to International Finance Corporation ("IFC"), on a preferential basis. The CCDs are convertible into equity shares of the Company within 18 months from the date of allotment, at a conversion price of Rs 45.02 per equity share.

Issue of warrants to Promoter / Promoter Group entities, for an amount aggregating upto Rs 70.00 crore, on a preferential basis. The warrants are convertible into equity shares of the Company at a conversion price of Rs 45.02 per share, exercisable at a date within 18 months from the date of allotment of warrants.

Enabling the Company to issue Non-Convertible Debentures on private placement basis or otherwise, within the overall borrowings limit of the Company.

Acquisition of business undertaking of Athena Life Sciences (Athena) by way of demerger, pursuant to Scheme of Arrangement between the Company, Athena and their respective shareholders and creditors (Scheme), subject to such further consents and approvals that may be required.

Powered by Capital Market - Live News