Compact Disc - Outcome of Board Meeting
Compact Disc India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 29, 2008, inter alia, has discussed and approved the following items placed before them:
1. Approved to create new posts and appoint 3 nos Presidents to independently look after Animation Production, Business Development and Finance, Legal & Secretariat works of the Company.
2. Approved to broadbase the Board by appointing 3 new independent Directors, who shall be renowned and professionals in the fields of Media, Finance and Business Development. These appointment shall be made within 3 months time.
3. Approved the Business Plan for the FY 2008-09.
4. Approved for the change of Registrar & Share Transfer Agents. After considering competitive pricing of various parties, it was approved to appoint Beetal Financial & Computer Services Pvt Ltd, 99, Madangir, New Delhi 110062 as the new R&T Agents with immediate effect.
5. Approved the withdrawal of the approval given for the issue of equity shares and convertible warrants on preferential / open offer basis to Samara Capital Partners Fund I Ltd and Mr. Ashish Kacholia, Private Investor. This approval was withdrawn on the issue of few due diligence points, as the Company has entered into a very strict confidential and secrecy agreements with its overseas principals.
6. Approved the appointment of Religare Capital Markets Ltd., as Financial Advisor for the fund raising exercise.
7. Approved to appoint an independent Investors Relations Consultants for constant and strong communication with the current and prospective shareholders / investment communality.
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