La Tim Metal and Industries Ltd board approves rights issue

The Board of Directors of La Tim Metal and Industries Ltd in its meeting held on Thursday, June 29, 2023 from 11:30 am to 02:00 pm approved the proposal of raising funds by issue of equity shares of face value of Re 1 each by way of a rights issue for an aggregate amount less than Rs. 50 cr to the eligible equity shareholders of the Company in accordance with provisions of the Companies Act, 2013 and the rules framed thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws, subject to the receipt of applicable regulatory, statutory approvals and other incidental and related matters.

The board approved constitution of a committee of the Board of Directors of the Company for the rights issue, namely Rights Issue Committee ("Committee") and authorised the Committee to do all such acts, deeds, things and matters, as it may in its absolute discretion deem necessary, proper and desirable for the purpose of and in connection with the rights issue.

Source : Equity Bulls

Keywords

LaTimMetalandIndustries FundRaising RightsIssue