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Exchange Disseminated Time | MIC Electronics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 12, 2011, inter alia, has approved the following;
1. Resignation of Shri Srikant P. Joshi as Director from the Board of Directors due to his preoccupations with effect from November 08, 2011.
2. 60,00,000 warrants allotted on April 20, 2010 warrants were not exercised within the statutory period of 18 months from the date or before October 19, 2011 (i.e. 18 months from the date of allotment), hence 60,00,000 warrants stand cancelled. The initial deposit of 25% of the offer price received at the time of allotment of Warrants is hereby forfeited. |
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