Held on 17 May 2017
Emerald Leisures announced that the Board of Directors of the Company, at their meeting held on Wednesday 17 May 2017 have considered and approved the following matters:(i) Took note and confirmed the appointment of Nilesh P. Kelkar as the Company Secretary & Compliance Officer of the Company with effect from 01 March 2017.
(ii) Reclassification of Authorized Share Capital of the Company, subject to an approval of the shareholders in General Meeting;
(iii) Increase the Authorized Share Capital of the Company, subject to an approval of the shareholders in General Meeting;
(iv) Approved issue of 40,00,000 warrants convertible into Non-Convertible Non-Cumulative Redeemable Preference Shares of face value Rs. 100/- each for an aggregate to Rs. 40 crore in one or more tranches on preferential basis to only promoter group, however this securities will not be listed at any Stock Exchange, subject to approval of the shareholders of the Company. The tenure is for a period not exceeding 10 years from the date of allotment and the same will be redeemed in accordance with section 55 of the Companies Act, 2013.
(v) Authorize Committee of Board of Directors to finalize Notice of General Meeting to be issued to the shareholders of the Company.
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