|
| Exchange Disseminated Time 24/10/2016 14:53:43 | Dharamsi Morarji Chemical Company Ltd has informed BSE that a meeting of the Board of Directors (the "Board") of the Company is scheduled to be held on October 27, 2016, to consider the proposal to issue and allot upto 8,00,000 Equity Shares of the face value of Rs.10 each by way of preferential allotment of equity shares to the Promoter Group of Companies as above, in accordance the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and in accordance with Section 42 and Section 62 of the Companies Act, 2013 and Rules made there under and other applicable provisions of the law, at a price which shall not be less than the minimum price arrived at in accordance with the provisions of Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time.
The proceeds of the preferential allotment of these shares will be utilised for redemption of the Preference Share Capital held by the promotergroup Companies viz. Natural Gas Co. Pvt. Ltd., Mumbai and Phoenix Distributors Pvt. Ltd., Mumbai.
Further, as per the Company's Code of Conduct for prevention of Insider Trading, the Trading Window for dealing in the Securities of the company will be closed for all Directors/Officers and Designated employees of the Company from October 24, 2016 to October 29, 2016 (both days inclusive). |
|
|