Corporate Announcement
Security Code : 523025    Company : SAFARI    
 
Outcome of Circular Resolution 
  Exchange Disseminated Time     
Safari Industries India Ltd has informed BSE that the Board of Directors of the Company vide their circular resolution effective July 21, 2014, have approved the following:

1. Issue and allotment of 8,30,000 (Eight Lakh Thirty Thousand) Equity shares of Rs. 10/- each at a price of Rs. 600/- per share (inclusive of premium of Rs. 590/- per share) aggregating to Rs. 49,80,00,000/- (Rupees Forty Nine Crores Eighty Lakhs only) on Preferential basis to Tano India Private Equity Fund II.

2. Issue and allotment of 3,30,000 (Three Lakh Thirty Thousand) Share Warrants to Mr. Sudhir M. Jatia, promoter of the Company, entitling the holder of the Share Warrants, from time to time, to apply for and obtain allotment of one Equity Share of the face value of Rs. 10/- each at a price of Rs. 600/- per Equity Share (inclusive of premium of Rs. 590/- per share) against each Share Warrant, being not less than the price arrived at in accordance with provisions of Chapter VII of SEBI (ICDR), in one or more tranches, at any time after one month from the date of allotment of the share warrants but within 18 months from the date of allotment.
 

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