Mangalam Seeds Ltd approves preferential issue

The Board of Directors of Mangalam Seeds Ltd at its meeting held on January 29, 2016, has considered and approved the Issue of Equity Shares, on a preferential basis, up to or equal to Rs. 9,00,00,000/- (Rupees Nine Crores only) to the proposed allottees.

The Pricing of the Equity share proposed to be issued shall be in accordance with the SEBI Regulation for Preferential issues. The Equity Shares Proposed to be issued shall be subject to a Lock-in as prescribed by SEBI Regulation for Preferential Issues, if any.

The Preferential Issue of the Equity Shares shall be subject to necessary approval of the Shareholders of the Company at the ensuring Extra Ordinary General Meeting and any other regulatory authorities, if required and shall be in terms of the regulation / rules / guidelines issued by SEBI, the listing agreement with stock exchange and other applicable provision of the law.

Source : Equity Bulls

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