Seshachal Technologies - Outcome of Board Meeting
Seshachal Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2008, has approved the following:
1. Allotment of 13,15,000 number of Equity Shares of Rs 10/- each at a premium of
Rs 13/- per share against acquiring M/s. Labcal Biometric Technologies Pvt Ltd, Hyderabad and settlement of creditors for consideration other than cash as below:
- Sri. B Ashok Kumar : 3,07,500
- Sri. P Vinod Kumar : 3,07 500
- Sri. D Jogesh : 3,50,000
- Sri. J Srinivasa Rao : 3,50,000
2. The Board has noted all the 16 number of applications received by the Company for allotment of 47,25,000 Share Warrants convertible into Equal Number of Equity Shares of Rs 10/- each at a premium of Rs 13/- per share are in order and authorised Mr. M Durga Prasad, Director of the Company to issue allotment letters / warrant certificates as soon as the Bankers certificate towards realization of the cheques issued by the applicants is received.
3. The Board approved the inductions of Mr. A N Sarma, Mr. B Sudhkar Babu and Mrs. P Nirmala Devi as Additional, Non Executive Independent Directors to strengthen the operations of the Company.
Tags: Seshachal Technologies