Adi Rasayan informs about rectified outcome of board meeting

29 Sep 2015 Evaluate

With reference to the earlier annoucement dated September 28, 2015, regarding Oucome of Board Meeting, Adi Rasayan has now informed that the Board of Directors at their meeting held on September 28, 2015, have subject to the approval of the Hon’ble High Court, shareholders. Stock Exchanges where the shares of the Company are listed and other relevant regulatory authorities approved the reduction of Equity Share Capital of the Company from Rs 6,51,97,000  divided into 65,19,700 Equity Shares of Rs 10 each fully paid-up to Rs 32,59,850 divided in to 3,25,985 Equity Shares of Rs 10 each fully paid up and such reduction be effected by canceling Rs 10 per share on 61,93,715 Equity Shares amounting to Rs 6,19,37,150 in the existing paid up Equity Share Capital against debit balance in Profit and Loss account. The Board of Directors has also decided to appoint advisors/consultants for Valuation Report, Fairness opinion and other relevant matters.

The above information is a part of company’s filings submitted to BSE.

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