Paramount Communications has informed that the Board of Directors of the Company at their meeting held today. has considered and approved the following: a) Issuance of foreign currency convertible bond (FCCB), through permissible modes, listed or unlisted, for an amount not exceeding Rs 135 crores, in one or more tranches, subject to such approvals as may be required including that of shareholders / regulatory and statutory approvals; In order to give effect to the above, the Board has constituted and authorized the Fund-Raising Committee of the Board to, decide the terms and conditions of the proposed fund raising and including but not limited to other incidental matters connected thereto; b) To issue and allot upto 50,00,000 Convertible Warrants ('Warrants'') on a preferential basis to Promoter Group towards raising of additional capital by the Company pursuant to Section 42, 62 of the Companies Act, 2013.
The above information is a part of company’s filings submitted to BSE.
