Held on 24 March 2016
Rohit Ferro Tech announced that the Board of Directors of the Company at its meeting held on 24 March 2016 has transacted the following -Considered and take on record strategic debt restructuring package approved by joint lenders forum (JLF) for conversion of a part of outstanding debt aggregating to a maximum of Rs 225 crore into 22,50,00,000 equity shares at a prices of Rs 10 each to enable the lenders to collectively hold 51% or more of the equity share capital of the Company.
Issuance of 7,28,00,000 equity shares at a price of Rs 10 per share to Promoter Group on preferential basis in lieu of the proposal for preferential issue of convertible warrants approved on 31 July 2015 in terms of the SDR package.
Approved increase in authorised share capital from Rs 185 crore to Rs 415 crore.
Appointment of R K Burnwal as an Additional Director as well as Executive Director for a period of 3 years.
Acceptance of resignation of Dinesh Biyanee, Executive Director (Works) from the company with effect from 31 March 2016.
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