| | | | Outcome of Board Meeting | 10/31/2011 6:32:44 PM | | | | APL Apollo Tubes Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 19, 2011, inter alia, has considered and approved the following matters:
1. Appointment of Mr. Ashok Kumar Gupta as Managing Director of the Company, subject to the shareholders’ and all other necessary statutory approvals.
2. Issue of 15,00,000 compulsorily convertible warrants, each warrant being convertible into one Equity Share of the Company, on preferential basis, to said, Mr. Ashok Kumar Gupta, at a price of Rs. 145/-, determined in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
3. Convening of Extra-ordinary General Meeting of the Company on November 18, 2011 to seek the consent of the members of the Company, for the aforesaid purposes.
4. Constitution of a committee of the office bearers of the Company, empowered for the corporate restructuring of the businesses, along with the Company's wholly owned subsidiaries namely, M/s. Apollo Metalex Private Limited, M/s. Lloyds Line Pipes Limited and M/s. Shri Lakshmi Metal Udyog Limited. | |
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