6th-Sep-2012 16:43Source: BSE

Koutons Retail - Updates on Outcome of Board Meeting (EGM on Oct 01, 2012)

With reference to the earlier announcement dated September 03, 2012 regarding Outcome of Board Meeting, Koutons Retail India Ltd has now Informed to BSE that on Point No. 3 mentioned in the erstwhile letter, regarding issue of equity shares on a preferential basis to promoters and bankers, though was there in the agenda of the Board Meeting, was dropped since discussions are going on with the Bankers for issue of equity shares as per the Corporate Debt Restructuring Scheme.

Further the Company also informed that there was a inadvertent typographical error in the time of the Extra-ordinary General Meeting being 11.00 a.m. instead of 9.30 a.m. The Extra Ordinary General Meeting would be convened on October 01, 2012 at 9.30 a.m. at Country Inn & Suites ByCarlson, Satbari, New Delhi - 110030 for consideration and approval of increase in authorised capital and consequent amendment to Memorandum of Association of the Company from Rs. 200,00,00,000/- (Rupees Two Hundred Crores only) to Rs. 1200,00,00,000/- (Rupees One Thousand Two Hundred Crores Only) and issue of Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) / Foreign Currency Convertible Bonds (FCCBs) / Equity Shares / Warrants and / or instruments convertible into equity shares for an aggregate sum up to US$ 200 million.