We wish to inform you that the Board of Directors of the Company at its meeting held on Monday, February 4, 2019, inter-alia, approved the following:
1. Amendment to Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information of the Company in view of the recent amendments by the SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018. The said amended Code shall come into force with effect from 1st April, 2019 and shall be accordingly uploaded on the website of the Company.
2. Variation of the terms and conditions of the existing 4,00,00,000 8% Non-Cumulative Non-Convertible Redeemable Preference Shares (NCNCRPS) by extension of the redemption period by a further period of 5 years with the change in the non-cumulative Dividend rate on the aforesaid NCNCRPS from 8% to a cumulative Dividend of 11 %, subject to the approval of the preference shareholders at their separate meeting and approval of the members of the Company by way of Postal Ballot, by passing the requisite resolutions.
3. Authority to furnish guarantee/provide security in favour of a Bank in connection with credit facility(ies) aggregating upto Rs. 150 crore to be availed by Titagarh Wagons Limited, the Holding Company.
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