At meeting held on 21 May 2014
IOL Chemicals & Pharmaceuticals announced that the Board of Directors of the Company at its meeting held on 21 May 2014 has approved the following matters:1. Increase in the Authorised Share Capital of the Company from Rs 54 crore to Rs 80 crore.
2. Issue of upto 50,00,000 equity shares of face value Rs 10 each and issue of upto 1,10,00,000 equity warrants, carrying an option to the holder of such warrants to subscribe to one equity share of face value of Rs 10 each for each warrant held within 18 months from the date of allotment of the warrants , on preferential basis, as per the SEBI (ICDR ) Regulations to the Non-Promoters.
3. Preponing the redemption of 1,50,10,000,1% Non Cumulative Redeemable Preference Shares of face value of Rs 10 each issued to the promoter group companies and 50,00,000,7% Non Cumulative Redeemable Preference Shares of face value of Rs 10 each issued to non promoters by way of issue equity share of Rs.10 each as per the SEBI (ICDR) Regulations
4. Convening of Extra-ordinary General Meeting on 20 June 2014.
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