Board resolution for conversion of OCRPS into equity

 

“RESOLVED THAT to Section 55, 179 of the Companies Act, 2013 and the other applicable provisions of the Companies Act, 2013, if any read with the Rules made thereunder (including any amendments thereto or re-enactment thereof) and pursuant to the provisions of Articles of Association, the consent of the Board be and is hereby accorded for conversion of below mentioned Optionally Convertible Preference shares into equity shares detailed as under:

 

a.    _________ Series A Optionally Convertible Preference shares of INR. 10/- each into ________ equity shares of INR. 10/- each.

 

b.    _____________ Series B Optionally Convertible Preference shares of INR. 10/- each into ________ equity shares of INR. 10/- each.

 

c.    __________ Series D Optionally Convertible Preference shares of INR. 10/- each into ________ equity shares of INR. 10/- each.

 

RESOLVED FURTHER THAT consequent to the conversion of above mentioned Optionally Convertible Preference shares, Equity shares be issued and allotted as under:

 

S. No.	Name of the Allottee	No. of Series A OCRPS already held	No. of Series B OCRPS already held	No. of Series D OCRPS already held	No. of equity shares to be allotted

 

RESOLVED FURTHER THAT the said Equity Shares shall rank pari-passu with existing equity shares of the Company.

 

RESOLVED FURTHER THAT the Share Certificates be issued under the signatures of Directors of the Company and for the purpose of giving effect to the aforesaid resolution, the Directors of the Company be and are hereby severally authorized to file the necessary forms with the Registrar of Companies and to update the register of members and to do all other necessary acts, things and deeds to give effect to the above-mentioned allotment.”