Hester Biosciences: Outcome of Board Meeting

Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Hester Biosciences would like to inform that Board of Directors, in their Meeting held today, have approved the followings:

Dec 18, 2019 11:12 IST India Infoline News Service

The outcome of the board meeting held today of Hester Biosciences has been conveyed to the exchanges -

Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that Board of Directors, in their Meeting held today, have approved the followings:

1. Issuance of equity shares, and/or equity linked securities and/or securities convertible into equity shares through Qualified Institutional Placement (QIP) or preferential allotment for an amount not exceeding INR 150 crores, subject to approval of members through Postal Ballot process.

2. Re-appointment of Mr. Rajiv Gandhi, CEO & Managing Director of the Company for the period of 3 years from 1 April 2020 to 31 March 2023, subject to approval of Members through Postal Ballot process.

Hester Biosciences Ltd is currently trading at Rs1,480 up by Rs15.1 or 1.03% from its previous closing of Rs1,464.90 on the BSE.

The scrip opened at Rs1,470 and has touched a high and low of Rs1,480 and Rs1,464.20 respectively. So far 2,542 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,246.17cr.

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