Hatsun Agro board approves rights Issue

Hatsun Agro Product Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 25, 2012, has approved the following:1. Issue of equity shares on rights basis to the existing shareholders amounting to a maximum of Rs. 50 Crores.2. Formation of a Committee (Rights Issue Committee) consisting of Mr. P. Vaidyanathan, Non-Executive and Independent Director (Chairman for the Rights Issue Committee), Mr. K. S. Thanarajan, Joint Managing Director and Mr. C. Sathyan, Executive Director and delegation of all the powers to the Committee including but not limited to decide the pricing and terms of the securities, to appoint Lead Managers and other intermediaries in consultation with the Lead manager, to approve draft and final letter of offer, to seek listing of securities to be issued on rights basis with concerned stock exchange, to finalise basis of allotment etc.Source : BSE

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