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Outcome of QIP committee meeting of Mold-Tek Packaging

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Capital Market
Last Updated : Jan 30 2015 | 6:03 PM IST

Held on 30 January 2015

Mold-Tek Packaging announced that the outcome of the meeting of the QIP committee of the Board held on 30 January 2015 in connection with the Qualified Institutions Placement:

Subsequent to the approval accorded by the Board of Director of the Company, at its meeting held on 19 November 2014 and approval of the shareholders of Company by way of special resolution dated 24 December 2014 for the QIP, the QIP Committee in its meeting dated 30 January 2015, inter alia, has passed the following resolution;

1. Authorizing the opening of the QIP on 30 January 2015;

2. Approving the Preliminary Placement Document dated January 30, 2015 in connection with the QIP (the "Preliminary Placement Document") and;

3. Approval of the floor price for the QIP.

Further, the "Relevant Date" for this purpose, in terms of regulation 81 of SEBI ICDR Regulations is 30 January 2015 and accordingly the Floor Price in respect of the aforesaid QIP, based on the pricing formula as prescribed under regulation 85(1) of the SEBI ICDR Regulations is Rs. 231.75/- per Equity Share. Pursuant to the Regulation 85 of the SEBI ICDR Regulations, and further to the shareholders resolution 24 dated December 2014 the Company may offer a discount of not more than 5% on the Floor Price as calculated for the QIP.

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First Published: Jan 30 2015 | 2:26 PM IST

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