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Outcome of board meeting of Quess Corp

Capital Market 

Held on 16 May 2017

The Board of Directors of Quess Corp at its meeting held on 16 May 2017 considered, interalia and approved the following:

1. Standalone and consolidated audited financial results for quarter and year ended 31 March 2017.

2. Raising of funds by way of a fresh issue of equity shares of the Company (the 'Equity Shares'), such that the total number of Equity Shares issued pursuant to such offerings/placements (including any over allotment options) does not result in the increase in public shareholding by more than 10% or such lesser percent as is required to reach minimum public shareholding, by way of rights issue and/or a public issue (including but not limited to issuance of Equity Shares through an institutional placement programme under Chapter VIII-A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ('SEBI ICDR Regulations') of equity shares in one or more tranches as permitted under the SEBI ICDR Regulations and any other applicable laws.

3. Additional investment of Rs.4.2 crore in the form of primary equity in Heptagon Technologies for 20% stake.

4. Investment up to SGD 899,000 through Quesscorp Holdings Pte. Ltd., Singapore ('QHPL') in the form of primary equity for 51% shareholding in an entity which shall be engaged in provision of general staffing and training services in Singapore.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 17 2017. 10:24 IST