Held on 29 September 2015
Energy Development Company announced that the Board of Directors of the Company at its meeting held on 29 September 2015, has decided and approved the following:1. Increase in authorized share capital by creation of 1,50,00,000 equity shares of Rs. 10/- each, ranking pari passu with the existing equity shares and consequential amendment in Memorandum of Association of the Company.
2. Issue of 2,00,00,000 equity shares of Rs. 10/- each at a price of Rs.22/- per equity shares (including a premium of Rs. 12/- per equity share) on preferential basis to non-promoters / promoters / promoters group / associates of the Company.
Approved and authorized the holding of Extra-ordinary General Meeting of the Company on 24 October 2015 and approved the notice convening the meeting, for obtaining shareholders' consent to the increase in authorized capital, amendment in Memorandum of Association and the aforesaid issue of equity shares.
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