The Board of Directors of the Company, at its meeting held today i.e. Monday, January 17, 2022, considered and approved subject to necessary approvals (1) Reclassification of Authorized Share Capital and Alteration of Memorandum of Association of the Company and (b) Raising of Funds by issuance of 903000 12% Cumulative Compulsory Redeemable Preference Shares.