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| Exchange Disseminated Time | Sequent Scientific Ltd has informed BSE that the Board of Directors have approved the following:
1. Investment of upto Rs. 150 Crores in the equity capital/ convertible warrants of M/s, Shasun Pharmaceuticals Limited. The investment is subject to statutory and other approvals, as may be applicable, including approval of shareholders under section 186 of the Companies Act, 2013.
2. Issue of 2,000,000 warrants on preferential basis to the Promoters/ Promoter Group, subject to the shareholders approval and necessary regulatory approvals. The warrants will be convertible into equivalent number of equity shares of Rs. 10/- each and will be issued at a price not lower than the price specified in Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and on such further terms and conditions specified in the said guidelines.
3. Increase in authorized capital of the Company from Rs. 32 Crores to Rs. 40 Crores by addition of 8,000,000 equity shares of Rs.10/- each and related amendments to Memorandum of Association and Articles of Association of the Company. |
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