Responsive Industries to issue NCDs

Responsive Industries Ltd has announced that the Board of Directors of the Company at its meeting held on January 13, 2009, has taken the following decisions subject to approval of members in the Extra Ordinary General Meeting.

Authority to the Board of Directors of the Company for Issuance of 7000 (Seven Thousand Only) 0% Compulsorily Convertible Debentures (CCDs) at a face value of Rs 1,00,000 (Rupees One Lakh only) convertible into Equity Share of Rs 10 at a price to be decided as per the SEBI Guidelines, on preferential basis to some of the existing shareholders of the Company subject to the SEBI Guidelines.

Approval of Notice of the Extra Ordinary General Meeting for obtaining approval of members by way of Special Resolution at the Extra Ordinary General Meeting to be held on February 10, 2009 for the above said purpose.

Source : Equity Bulls

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