Kaashyap Technologies - Updates on Outcome of Board Meeting
Kaashyap Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 09, 2008, inter alia, has also discussed and decided to hold the Tenth Annual General Meeting of the Company on June 11, 2008, to consider the following:
1. To receive, consider, approve and adopt the Audited Balance Sheet as at March 31, 2008, Profit & Loss Account for the year ended March 31, 2008 and the Directors’ and Auditors’ Report thereon.
2. To elect a directors in the place of directors retiring by rotation.
3. To appoint Mr. G Parthasarathy, Chartered Accountant, as the Statutory Auditor of the Company to hold office from the conclusion of this meeting until the conclusion of the next annual general meeting and to authorise the board of directors to fix the remuneration payable to them.
4. To consider and approve 100% investment in Space Hospitals Ltd., partially by issue of equity shares for Rs 9 Crores by allotting equity shares of Kaashyap Technologies Ltd (KTL) to the shareholders of Space Hospitals Ltd, on a preferential basis as per the SEBI Guidelines for Preferential Allotment contained it Chapter XIII of SEBI (Disclosure of Investor Protection) Guidelines, 2000 and for the balance through cash consideration of Rs 8.5 crores.
5. To consider and approve capitalization of profits / reserves and issue of fully paid-up equity shares as bonus shares in the ratio of 1:6, i.e. 1 fully paid-up equity share of Re 1 each for every 6 existing fully paid-up equity shares held by the shareholders of the Company as on the record date to be fixed later.
Further the Board decided that, the Register of Members & Share Transfer Books of the Company will remain closed from June 06, 2008 to June 10, 2008 (both days inclusive) for the purpose of Tenth Annual General Meeting to be held on June 11, 2008.
Tags: Kaashyap Technologies