Mitsu Chem Plast informs about outcome of board meeting

06 Jul 2022 Evaluate

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), Mitsu Chem Plast has informed that at the Meeting of Board of Directors of the Company held today July 5, 2022 which commenced at 5:30 pm and concluded at 11.58 pm has considered and approved: Raising of funds aggregating upto Rs 12,500 Lakhs by way of issue of equity shares through further public offer for the purpose of repayment/pre-payment, in full or part, of certain borrowings availed by the Company, funding the working capital requirements of the Company and general corporate purposes, subject to such approvals, as may be required. This is in reference to its letter dated February 15, 2022, the raising of funds has been authorised by its Board pursuant to resolution dated February 15, 2022 and by its Shareholders pursuant to a resolution dated March 22, 2022 by way of postal ballot, Restated financial statements for the fiscal ended March 31, 2022, March 3, 2021 and March 31, 2020 along with the Examination Report thereon issued by the Statutory Auditors of the Company (‘Restated Financial Statements’) and Draft Red Herring Prospectus for filing with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, BSE and National Stock Exchange of India (collectively, the ‘Stock Exchanges’) as per the provisions of the Securities and Exchange Board of India (‘SEBI’)(Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended in connection with the proposed further public offering with the powers granted to the FPO Committee of the Board of Directors to do necessary modifications / updations as required for filing with SEBI / Stock Exchanges.

The above information is a part of company’s filings submitted to BSE.

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