Board of Foods & Inns to consider conversion of loan

On 17 December 2016

Foods & Inns announced that a meeting of the Board of Directors will be held on 17 December 2016, inter alia, to consider and approve the following business:

1. To consider raising capital by way of conversion of loan into equity shares and further issuance of equity shares to investors on a private placement basis.

2. Approve draft notice of extra-ordinary general meeting for obtaining shareholders' approval on the above matter.

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