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Stake Sale
Welplace Portfolio and Financial Consultancy Services Ltd to issue 8391800 shares
Posted On : 2016-11-09 20:24:47( TIMEZONE : IST )
The Board of Directors of Welplace Portfolio and Financial Consultancy Services Ltd at its meeting held on November 07, 2016, have subject to approval of shareholders and stock exchanges where the shares of the Company are listed and other relevant authorities have decided to issue and allot 83,91,800 Equity Shares of Rs.10/- each at a price to be determined in accordance with the pricing formula prescribed under VII-Preferential issue of SEBI [ICDR] Regulations 2009 for consideration other than cash on acquisition of business / assets (Contracting & construction Business) from M/s Generic Engineering & Constructions Private Limited and execution of Business Transfer cum share Subscription Agreement.
The Board approved proposal to issue and allot 7,00,000 Equity Shares of Rs.10/- each at a price to be determined in accordance with the pricing formula prescribed under VII-Preferential issue of SEBI [ICDR] Regulations 2009 for cash to the shareholders of M/s Generic Engineering & Constructions Private Limited who are acting in concert with M/s Generic Engineering & Constructions Private Limited.
The Board approved proposal to issue and allot 23,00,000 Equity Shares of Rs.10/- each at a price to be determined in accordance with the pricing formula prescribed under VII-Preferential issue of SEBI [ICDR] Regulations 2009 for cash to the investors / public (public category).
The Board approved proposal to increase the Authorised share Capital of the Company by Rs. 12.75 crores and amend Memorandum of Association and Articles of Association accordingly.
The Board approved proposal to alter the main objects of the Company and amend the Memorandum of Association accordingly and also change the name of the Company.
The Board approved the notice of Extra Ordinary General Meeting to be held on December 07, 2016 and also approved the notice of postal ballot and finalized the calendar of events.
The Board also accepted resignation of Ms. Richa Dalwani Company Secretary and compliance officer w.e.f. October 31, 2016 and appointed Ms. Ami Shah as Company Secretary and compliance Officer w.e.f. November 01, 2016.
