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Sadhana Nitro Chem announced that the Board of Directors of the Company at its meeting held on 27 November 2014, has approved the following:
1. Subject to approval of shareholders, the increase in Capital from 11,00,00,000/- (Rupees Eleven Crores Only) divided into 92,50,000 (Ninety Two Lacs Fifty Thousand) equity shares of Rs. 10/- (Rupees Ten) each and 17,50,000 (Seventeen Lacs Fifty Thousand) Preference Shares of Rs. 10/- (Rupees Ten) each to Rs. 21,00,00,000/- (Rupees Twenty One Crore only) divided into 92,50,000 (Ninety Two Lacs Fifty Thousand) equity shares of Rs. 10/- (Rupees Ten) each and 1,17,50,000
(One Crore Seventeen Lakhs and Fifty Thousand) Preference Shares of Rs. 10/- (Rupees Ten) each.
2. Subject to the approval of the shareholders of the Company, the proposal to make private placement of 9% Cumulative Non Convertible Preference Shares by way of preferential issue to Promoters and/or Promoter Group and/or the Holding Company.
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