RT Exports - Outcome of Board Meeting
RT Exports Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 17, 2008, inter alia, has passed the following resolutions:
1. Part redemption of Preference Shares allotted to Harmony Holdings Inc. at par by allotment of 550000 Equity Shares of face value of Rs 10/- each of the Company. The Company has received necessary approval from the Reserve Bank of India for the same. This would be subject to approval of the members as per the provisions of the Companies Act, 1956 and necessary formalities and price at which the allotment to be made will be as per the SEBI Rules for Allotment of Shares on Preferential Basis.
2. Subject to approval of the Preference Shareholders and Equity Shareholders, the redemption of 700000 Preference Shares allotted to Peninsula Gateways Pvt Ltd (formerly known as R T Agro Pvt Ltd) was extended for further period till March 31, 2013 at the revised terms.
3. An Extra ordinary General Meeting of the members is convened on May 19, 2008 for seeking approval for allotment of 550000 Equity Shares of the Company on Preferential basis towards the part redemption of Preference Shares of Harmony Holdings Inc. and extending time for redemption of Preference Shares and amendment in terms of 700000 Preference Shares allotted to Peninsula Gateways Pvt Ltd (formerly known as R T Agro Pvt Ltd).
Tags: RT Exports