Held on 28 November 2014
IOL Chemicals & Pharmaceuticals announced that the Board of Directors of the Company at its meeting held on 28 November 2014, inter alia, has considered and approved the following matters:1. Allotment of 50,51,924 equity shares of face value of Rs. 10/- each on conversion of US$ six million Zero Coupon Unsecured Foreign Currency Convertible Bonds issued in May 2010 to the bondholders and allotment of 8,41,987 equity shares of the face value Rs. 10/- each on conversion of US $ one million bonds in the name of custodian on behalf of the bondholders, who have not submitted their conversion notices for mandatory conversion. The paid up capital of the Company increased from 4,17,61,591 equity shares of Rs. 10/- each to 4,76,55,502 equity shares of Rs. 10/- each on the allotment aforesaid shares.
2. Constituted a Committee with M/s KPMG as its advisors, to unleash the potential of the Company through the various options of joint ventures, restructuring of business etc.
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