Gokak Textiles has informed that the Board of Directors of the Company at its meeting held on July 28, 2015, has decided to issue Non-cumulative, Non-convertible, Redeemable Preference Shares of Rs 10 each, aggregating to Rs 20 Crores on Private Placement Basis to the Promoter/Promoter Group, subject to the approval of the shareholders by way of Special Resolution and to convene an Extra Ordinary General Meeting of the shareholders of the Company for this purpose. It was decided not to seek listing of the proposed issue of Preference Shares.
The above information is a part of company’s filings submitted to BSE.
