Sangam Advisors Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 27, 2014, inter alia, has considered and approved to:
1. Allot 2,64,000 equity shares issued on preferential basis for which in-principle approval is received from stock exchange.
2. Issue upto 96,000 equity shares of the Company to the Promoter on preferential basis (preferential issue), in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 ('SEBI ICDR Regulations'). The proposed issue will be made at a price to be determined as per the SEBI ICDR Regulations.
3. Hold extra-ordinary general meeting (EOGM) on April 28, 2014:
a. to seek the approval of the Members for issue of equity shares on preferential basis to promoter and
b. disclosure of details of natural persons who are the beneficial owners in case of allotment of 2,64,000 equity shares on preferential basis to Promoter Group and Non-promoters.
4. Approve the draft notice of the EOGM to be sent to the members of the Company.
The aforesaid proposed Preferential Issue is subject to the approval of the members of the Company in the Extra Ordinary General Meeting of the shareholders of the Company.
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