At meeting held on 17 September 2015
Astral Poly Technik announced that the Board of Directors of the Company at its meeting held on 17 September 2015, approved the followings;1. Acquisition of balance 24% of equity share capital of Resinova Chemie (Subsidiary of the Company) at a value of Rs. 73 crore from Vijay Parikh. Post-acquisition, Resinova Chemie shall become wholly owned subsidiary of the Company.
2. Preferential Issue of maximum 14,04,762 Equity Shares to Vijay Parikh at Rs. 420/- per share or at a price determined by Chapter VII of SEBI ICDR Regulations, whichever is higher. The Preferential Issue is subject to approval of shareholders by passing of special resolution through postal ballot.
3. Introduction of Employee Stock Option Scheme subject to approval of shareholders by passing of special resolution through postal ballot.
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