Board of Arshiya approves raising of share capital

At meeting held on 27 December 2017

The Board of Arshiya at its meeting held on 27 December 2017 has approved the following proposal, subject to approval of shareholders -

Increase in authorised share capital and alteration of capital clause of the Memorandum of Association of the Company;

Issuance of the following securities on preferential basis in accordance with SEBI (ICDR) Regulations, 2009 as amended and other applicable provision -

- Upto 10,50,000 equity shares to Axis Bank against part conversion of crystallised liability amount to Rs 11.60 crore;

-Upto 11,70,000 Zero Percent Optionally Convertible Redeemble Preference Shares to SICOM in terms settlement with SICOM; and

 

- Upto 27,75,000 equity shares to Non -Promoter on preferential basis.

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