Board approves proposal for issue of 18,01,211 equity shares on preferential basis
Sterling Tools announced that the Board of Directors of the Company at its meeting held on 12 April 2017 approved the following -The Company has signed a Business Collaboration Agreement with a Japan based Company named Meidoh Co. having its principal office at 4-5 Sangen-cho, Toyota, Aichi, 4710037, Japan.
The Company has signed Share Subscription Agreement with the aforesaid company. Accordingly approved the proposal to issue 18,01,211 equity shares on preferential basis of face value of Rs. 2/- to aforesaid company, at an issue price of Rs 246.60 per share.
To convene an Extraordinary General Meeting of the company to obtain shareholders' approval on Wednesday, 10 May 2017 for the proposed Preferential Allotment.
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