The Board approved the following key resolutions:
- Approved the proposal for acquisition of equity share capital of an entity engaged in marble mining, extraction, processing and allied activities. The target company's business includes exploration and development of marble-bearing mineral resources, quarrying and extraction of marble blocks, processing and finishing of marble and other allied stone products. The acquisition is subject to satisfactory completion of due diligence, valuation, negotiation and other terms and conditions considered appropriate by the Board.
- Approved, in principle, the proposed transaction structure, consideration and other commercial terms for the acquisition, subject to applicable regulatory approvals and execution of definitive agreements.
- Approved fundraising by way of issue of equity shares and/or other eligible securities on a preferential basis, including potential swap of shares as consideration for the proposed acquisition. The fundraising will be conducted in accordance with SEBI (ICDR) Regulations, 2018 and Companies Act, 2013, subject to member approval and other regulatory approvals as required.
- Authorized Mr. Om Prakash Sharma, CEO of the company, to identify and appoint legal, financial, tax, technical and other professional advisors/consultants, including a SEBI registered merchant banker and registered valuer, in connection with the proposed acquisition and securities issue.
- Authorized Mr. Om Prakash Sharma to conduct due diligence, negotiate and finalize terms of the proposed transaction, and subject to further Board approval, execute definitive documents and instruments required for the transaction.
The disclosure was signed by Lakshita Sharma, Director (DIN: 0983147), and submitted to BSE Limited for compliance purposes.
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