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KEI Industries
BSE: 517569NSE: KEIISIN: INE878B01027

5th-Dec-2019 13:08Source: BSE

KEI Industries - Outcome Of Board Meeting / Announcements Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosures Requirements) Regulations, 2015

Further to our intimation dated 02.12.2019 under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at their meeting held on Thursday, the 05th day of December 2019 has approved, inter alia, Notice of Postal Ballot seeking approval of Shareholders for raising of funds in one or more tranches, by issuance of equity shares by way of Qualified Institutional Placement(s)(QIP).

Further, for the purpose of giving effect to above, the Board of Directors has also authorized a Special Committee of the Board to decide, inter alia, the terms and conditions of the proposed QIP, and authorized Share Allotment Committee, inter alia, for allotment of equity shares pursuant to the QIP.

The meeting of the Board of Directors commenced at 10.30 a.m. and concluded at 12.45 p.m.

This is for your information and record.

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