Moneycontrol
Jul 15, 2017 10:38 AM IST | Source: Moneycontrol.com

Raunaq EPC International: Outcome of committee meeting

This is to inform that the Finance Committee of Board of Directors of the Company in its Meeting held on l5th July, 2017 has re-considered the "Issue of Convertible Warrants" to promoter(s)/promoter(s) group and non-promoters of the Company on preferential basis.

Raunaq EPC International: Outcome of committee meeting
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 ("the Regulations"), this is to inform that the Finance Committee of Board of Directors of the Company in its Meeting held on l5th July, 2017 has re-considered the "Issue of Convertible Warrants" to promoter(s)/promoter(s) group and non-promoters of the Company on preferential basis as duly approved by the Board of Directors of the Company in its meeting held on 20th June,2017 and presently decided to withdraw the said issue since the working capital requirement for the anticipated projects ls no longer required as the Company could not bag the said projects.

The Company shall carry out the preferential issue in future as and when the need of working capital arises for the execution of new projects.

You are requested to kindly take the same on records.
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