In terms of Regulation 30 read with Schedule III of the SEBI Listing Regulations, Cineline India has informed that the board of directors of Cineline India in its meeting held today i.e., Tuesday, June 7, 2022, have considered and approved issuance of up to 2,700,000 warrants each convertible into, or exchangeable for, one equity share within the period of 18 month at a price of Rs 130 each aggregating up to Rs 35,10,00,000 to the Members of the Promoter Group by way of preferential issue in accordance with the provisions the Companies Act, 2013, Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ('SEBI ICDR Regulations'), SEBI Listing Regulations and such other acts / rules / regulations as maybe applicable and subject to necessary sharehoders/ statutory approval; and the proposal for monetizing property of the Company viz. Eternity Mall located at Nagpur for a consideration of up to Rs 60,00,00,000 on such terms and conditions as maybe agreed upon by the Board ('Sale of Undertaking') and subject to necessary approval of the members of the Company in terms of applicable law.
The above information is a part of company’s filings submitted to BSE.
