Outcome of board meeting of Nitesh Estates

Held on 09 August 2016

Nitesh Estates announced that the Board of Directors of the Company at its meeting held on 09 August 2016, inter alia, have approved the following:

1 .The increase in authorised capital to Rs. 500,00,00,000 (Rupees Five Hundred Crores only) divided into 50,00,00,000 (Fifty Crores) equity shares of Rs. 10 (Rupees Ten Only) each subject to shareholders approval at the general meeting. As a result the Clause V of the Memorandum of Association of the Company will be altered.

2. The investment in 5,100 equity shares of Orange Self Storage (OSSPL) resulting in OSSPL becoming 51% subsidiary of the Company.

 

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