Held on 27 April 2017
Adlabs Entertainment announced that the Board of Directors of the Company at its meeting held on 27 April 2017 approved:1) Issue of convertible warrants up to maximum amount of Rs. 12,00,00,000/- (Rupees Twelve Crore Only) to Bennett Coleman & Co. on preferential basis; and
2) Issue of upto 12,63,158 equity shares to Bennett Coleman & Co. on preferential basis.
The Board has also approved obtaining enabling approvals of shareholders for the below matters: 1) Issue of Non-Convertible Debentures and/or other debt securities, etc., in one or more tranches, within the overall borrowing limits of the Company, as may be approved by the Members from time to time on private placement basis; and 2) Issue of securities to Qualified Institutional Buyers upto Rs. 200 crore.
It is further informed that shareholders' approval for all the above matters shall be obtained through postal ballot process.
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