Pincon Spirit Ltd to allot upto 10 lakh shares to Chairman & MD

The Board of Directors of Pincon Spirit Ltd has approved to create, offer, issue and allot, from time to time and in one or more tranches, upto 1,000,000 equity shares of face value of Rs. 10/- each ("Equity Shares") fully paid up, to Mr. Monoranjan Roy, Chairman & Managing Director of the Company, at such time or times, in one or more tranches and on such terms and conditions and in such manner, under Preferential Issue as the Board may think fit in its absolute discretion, at a minimum price as may be arrived at in accordance with the ICDR Regulations ("Issue Price") subject to the approval of the members in the upcoming Extra Ordinary General Meeting of the Company.

The Board has approved to create, offer, issue and allot, from time to time and in one or more tranches, upto 500,000 Equity Shares Warrants each to M/s Affordable Agro Agencies Private Limited, & M/s. Lively Equipments Suppliers Private Limited ("Investors"), aggregating to not more than 10,00,000 Equity Shares Warrants, at such time or times, in one or more tranches and on such terms and conditions and in such manner, under Preferential Issue of Share Warrants as the Board may think fit in its absolute discretion; provided that each such Warrant shall entitle the holder(s) thereof to subscribe for and be allotted one equity share of the face value of Rs. 10/- of the Company (the "Equity Share"), at a minimum exercise price as may be arrived at in accordance with the ICDR Regulations ("Issue Price") subject to the approval of the members in the upcoming Extra Ordinary General Meeting of the Company.

The Board approved proposal to call Extraordinary General Meeting of the Shareholders on March 22, 2016 for consideration of the above business / matters.

Source : Equity Bulls

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